Houston Homes For Sale » Multifamily

Prudential Sells Conti Organization 176 Unit Villa Ana Apartment Building

James Wheelock — Fri, 23 Apr 2010 22:23:20 +0000

4/23/2010-Houston multifamily real estate market: In a recent multifamily real estate market transaction Prudential sells the CONTI Organization the apartment building formerly known as Star Crossing for $3.4 million. The 176 unit Villa Ana is located at 10101 West Sam Houston Pkwy in a neighborhood just four miles from major employment centers. The property has a vacancy rate of just under 30% and Conti plans to invest 800k into remodeling the property.

Discovery At Shadow Creek Ranch Apartments To Be Completed Soon

James Wheelock — Mon, 05 Apr 2010 17:42:38 +0000

4/5/2010-Houston Multifamily Real Estate Market News: In addition to the Pearland Senoir Village, a senior living apartment complex, Discovery At Shadow Creek Ranch is expected to be finished soon. Giving the Pearland area two new multifamily housing projects this year.

Discovery At Shadow Creek Ranch will have 347 units and cost $22.3 million when completed. The Multifamily housing development will be located at 2526 Business Center Dr., just off of FM 518/Broadway a main thoroughfare for both Pearland and Friendswood.

Pearland Senior Village To Be Constructed With TDHCA Funds

James Wheelock — Mon, 05 Apr 2010 17:30:59 +0000

4/5/2010-Houston Multifamily Real Estate Market News: Pearland Senior Village is a 126 unit 15 million dollar senior living apartment project, scheduled to be built on the 8100 block of 518/Broadway. Rental rates for the Pearland Senior Village are expected to range between $315 and $650 a month.

The $15 million project will be using a $1.537 million dollar credit recieved through the Texas Department of Housing and Community Affairs (TDHCA). The facility will be the first multifamily project completed in the Pearland area using the TDHCA program.

Gables Residential Corporation Sells Memorial Hills Apartments

James Wheelock — Tue, 23 Mar 2010 22:42:48 +0000

2/21/2010-Houston Multifamily real estate news: Los Angeles based CIM Group purchases the newly completed Memorial Hills apartments located at 4200 Scotland from Gables Residential Corporation, as part of its expansion into Texas.

The Memorial Hills complex is a well located property found between the two largest Houston business districts and adjacent to River Oaks Houston. The property is one of four acquired by CIM group in its efforts to expand into Dallas and Houston, two of the most stable real estate markets in the country.

Post Investment Group Purchases Serrano Apartments From Foreclosure

James Wheelock — Wed, 11 Nov 2009 03:24:15 +0000

Los Angeles-based Post Investment Group has acquired two assets from foreclosure. Between acquisitions and planned rehab, the company will spend in excess of $40 million on Serrano Apartments in Houston and Longhorn Station Apartments in Austin.

Serrano Apartments at 14723 W. Oaks Plaza St. was built in 1999 by Fairfield and owned by MBS before that company went into bankruptcy. The current occupancy is at 30 percent.

In Austin, the 1970s Longhorn Station Apartments is receiving both a facelift and a name change. The complex is south of downtown.