Hilltop Buys 292-Unit Houston Community
Pacific Coast Capital Partners issued an acquisition loan for this deal.
Hilltop Residential has purchased Lincoln Heights, a 292-unit community in Houston, from Willow Bridge Property Co.—Lincoln Property Co.’s residential arm—according to Yardi Matrix information. Pacific Coast Capital Partners aided the transaction with a $38.7 million acquisition loan.
The seller completed the four-building property in 2020 at 700 W. Cavalcade St., on an 8-acre site.
Located in Houston’s Greater Heights historic neighborhoods, the property is close to the interchange between interstates 610 and 45, some 4 miles north of downtown. The community is also close to The Houston Farmers Market and Montie Beach Park.
Lincoln Heights rises four stories and has studio, one-, two-and three-bedroom floorplans ranging from 576 to 1,331 square feet, the same data provider shows. Shared amenities include a fitness center, business center, clubhouse, swimming pool and grade-level parking with more than 470 spots.
This year, Willow Bridge ranked fourth among Yardi Matrix’s top multifamily property management companies, boasting a 93.5 percent occupancy rate across its portfolio—which comprised 220,676 units as of 2024.
Houston multifamily sales reaches healthy territory
In the first 11 months of the year, Houston registered almost $2.8 billion in multifamily sales, with 161 assets trading at an average per-unit price of $131,662, according to Yardi Matrix data. During the same time frame of last year, the metro saw $2.3 billion in sales, with 145 properties changing hands at an average price of $133,425 per unit.
Out of the metro’s total sales, $960 million were registered in the first half of the year, positioning Houston in the top 10 markets for multifamily transactions volume. Trailing behind the market were Portland, Ore. and Kansas City, Mo., with $644 million and $304 million, respectively.
