Houston
Occupancy Down, Rents Up in Post-Hurricane Houston
Overall occupancy declined over the past year, as the aftermath of Hurricane Harvey continues to be felt, according to the latest report by Berkadia. Development is focused in the downtown core, where average rents grew by 4.3 percent.
Houston Apartment Community Changes Ownership
Located in the heart of Houston’s Energy Corridor, the Ashford Apartments was purchased by Allied Orion Group in its first multifamily acquisition in 19 years.
Houston Community Receives $26M Loan
Park Texas Apartments’ 587 units spread across 51 two-story buildings. The garden-style community is undergoing extensive capital improvements, following damage caused by Hurricane Ike.
American Landmark Acquires 282-Unit Houston Community
The Class A asset located in the South Main area is next to Interstate 610 and came online last year.
29th Street Capital Expands Houston Portfolio
The 438-unit Limestone Apartments, located in the George Bush Park submarket, marks the firm’s ninth acquisition in the city and its second investment in the last six months.
Inland Private Capital Sells Houston-Area Community
Goldman Sachs Asset Management Private Real Estate purchased the asset in a transaction that involved a $28.8 million loan held by TIAA.
Freddie Mac, NEF Launch New LIHTC Fund
The fund’s first three investments in Houston and Los Angeles total more than $60 million and come several months after Freddie Mac re-entered the LIHTC market.
DRA Advisors JV Purchases Houston Community
The firm partnered with Fogelman to acquire the 660-unit Class A multifamily asset in the Royal Oaks Country Club submarket.
504-Unit Community Changes Hands in Houston
GVA Real Estate Investments purchased Sandridge using $38.9 million in financing from Ready Capital. The property spreads across approximately 19 acres and comprises 41 buildings.
$26M Financing Earmarked for Houston Portfolio
Capital One provided the Fannie Mae loans to Solid Goods Corp. to refinance the Villas at Cypresswood and the Lakewood Apartments.