Brixton Capital Buys Houston Asset
The garden-style community is close to NASA's Johnson Space Center.
Brixton Capital has acquired Regatta Bay, a 240-unit multifamily property in Seabrook, Texas. The seller was a partnership between Lloyd Jones and Polaris Realty, represented by Matt Saunders of Newmark. The buyer benefited from a $35.8 million acquisition loan originated by Western Alliance Bank, Yardi Matrix data shows. The property will be managed by United Apartment Group, a firm bought by Brixton Capital in 2020.
Completed in 2003, Regatta Bay comprises 15 two- and three-story buildings. Located at 2555 Repsdorph Road, southeast of Houston, the property is in an area close to multiple job clusters, including several health-care facilities, the Port of Houston and NASA’s Johnson Space Center.
Common-area amenities include a swimming pool, fitness center, spa, laundry facilities and a clubhouse. The one-, two- and three-bedroom units range between 640 and 1,095 square feet. Units include washer/dryer hookups, vaulted ceilings and fireplaces in some select units. Brixton is aiming to renovate both units and amenities.
Regatta Bay marked Brixton’s fourth acquisition in Texas in the past 12 months, said Mark Selman, president of the company, in prepared remarks.
Newmark brokered another significant multifamily sale in Houston this month, GenCap Partners’ sale of a 350-unit property in Humble, Texas.