BREAKING NEWS

Major Warehouse Lease Signed

Unilev Taps Stream Realty

58 Cities Drop Off Million-Dollar Home List

RNR Real Estate Briefs – HOU, AUS, DAL & more

Offices For Energy Transition

Partners Buys Former Hartman Properties

REALTY NEWS REPORT - Logo

Banner
  • Home
  • Categories
    • Breaking News
    • Houston
    • Residential
    • New Development
    • People
    • Office
    • Multi-Family
    • Capital Markets
    • Texas
    • Retail
    • Hospitality
    • Industrial
    • Land
    • Lease Brief
    • Medical
    • National
    • Realty News Report
    • Trades
    • Uncategorized
  • Archive
  • Subscribe
  • The Ralph Bivins Project
  • About
  • Contact
FacebookLinkedinYoutubeEmail
REALTY NEWS REPORT - Logo

Three Deals Closed in Houston’s Hot B&C Multifamily Market

by Realty News ReportAugust 9, 2016
Share0

HOUSTON – Transwestern’s Houston Multifamily Investment Services Group, demonstrating a trend for Houston’s hot market for Class B and C units, has completed the sale of three apartment properties totaling 786 units.

“Demand for Class B and C apartment assets remains vibrant in the Houston market,” said Transwestern Managing Director Ed Cummins. “These deals represented a blend of local and national capital, as well as a mix of yield and value-add buyers. Year to date, we have closed 12 deals totaling over 1,800 units at a value of approximately $130 million. With similar numbers in the pipeline, we expect the second half of the year to be strong.”

The following are details on each transaction:

  • Waterford Place Apartments, a 552-unit community located at 3125 Crestdale Drive in Houston, was purchased for an undisclosed amount by SPRE Waterford LLC. Transwestern represented the seller, Ascension Commercial Real Estate, in the transaction.
  • Chateau Nederland, a 178-unit community located at 1003 Ave. B in Nederland, was purchased for an undisclosed amount by Roco Chateau Nederland LLC. Transwestern represented the seller, Chateau Residential LP, in the transaction.
  • Sherwood Glen Apartments, a 56-unit community located at 3805 Sherwood Lane in Houston, was purchased for an undisclosed amount by APEG Sherwood LLC. Transwestern represented the seller, Shamrock Lane LLC, in the transaction.

Along with Cummins, Transwestern’s Senior Vice President Tim Gregory, Vice Presidents Ryan Mendez and Kenady Davis and Assistant Vice President Lupe Olivares represented the sellers.

The average occupancy rate for the Class C apartment market reached 93.5 percent in the second quarter, according to Transwestern. The Class C segment outperformed other classes of multifamily, although Class B occupancy is also outstanding.

August 9, 2016 Copyright 2016 Realty News Report

Share0
previous post
Hines Signs Another Tenant in New Houston CBD Tower
next post
Weingarten Pays $285 Million for 668,000-SF Center in Fla.

Related posts

Major Warehouse Lease Signed

Realty News ReportMarch 22, 2023

Unilev Taps Stream Realty

Realty News ReportMarch 21, 2023

58 Cities Drop Off Million-Dollar Home List

Realty News ReportMarch 20, 2023

Leave a Comment Cancel Reply

Save my name, email, and website in this browser for the next time I comment.

Search News

Partners Ad
CBRE Ad
Arch Con Corporation Ad
Hines Ad
Avera Ad
Ziegler Cooper Ad
Lee & Associates Ad
2021 Realty News Report Ad
Property Logos
RNR - Lincoln Property Company
Hal Gordon - Property Tax Lawyer
Hunington Ad
Evergreen Commercial Realty
STREAM Ad
Hunington Ad

Let's Connect

logo
About US
Author Ralph Bivins is editor of Realty News Report, which covers regional and national news. Bivins recently received the Gold Award for Best Column in the National Association of Real Estate Editors Journalism Competition. Contact us
Follow us
FacebookLinkedinYoutubeEmail
@2022 All Right Reserved. Powered by CGS Digital Marketing
REALTY NEWS REPORT - Logo
FacebookLinkedinYoutubeEmail
  • Home
  • Categories
    • Breaking News
    • Houston
    • Residential
    • New Development
    • People
    • Office
    • Multi-Family
    • Capital Markets
    • Texas
    • Retail
    • Hospitality
    • Industrial
    • Land
    • Lease Brief
    • Medical
    • National
    • Realty News Report
    • Trades
    • Uncategorized
  • Archive
  • Subscribe
  • The Ralph Bivins Project
  • About
  • Contact