HOUSTON – Demand for Class B and C multifamily investment property in Houston remains hot. Occupancy in B and C markets is around 95 percent, while the Class A market is weakening with excess supply.
Transwestern brokered the sale three multifamily complexes in the Houston area: (1) The 172-unit Park Hollow at 4343 S. Shaver in Houston; (2) the 409-unit Maxey Village at 666 Maxey Road; and (3) the 192-unit Park at Cedar Lawn in Galveston.
“We continue to see high demand for Class B and C apartment assets in Houston,” said Ed Cummins of Transwestern. “The projects all were purchased by out-of-state investors looking for yield with some value-add component.”
Transwestern’s Tim Gregory, Ryan Mendez, Kenady Davis and Lupe Olivares worked with Cummins on the deal.
Nov. 1, 2016 Realty News Report Copyright 2016