HOUSTON – (Realty News Report) – Houston-based Mosaic Residential purchased the The Club at Stablechase, a 148-unit multifamily complex located near Schroeder Road and Highway 249 in the Champions area of northwest Houston.
The seller, CFH Investment Partners, was represented by CBRE’s Matt Phillips and Clint Duncan, in the off-market transaction.
The Club at Stablechase, built in 1999, features one- two- and three-bedroom units with an average size of 1,012 SF. The complex was 90 percent occupied at the time of closing.
“Mosaic Residential will continue and expand on the upgrades and property enhancements that CFH Investment Partners completed during their ownership,” said CBRE Senior Vice President Matt Phillips. “We will continue to see this trend throughout the Houston multifamily market as fundamentals firm up this year and owners are able to get premium rents for upgrading units and adding amenities.”
Feb. 20, 2018 Realty News Report Copyright 2018