Houston Asset Trades for 1st Time in 25 Years
The community's walkability was a key selling point.
Kingwood Houston Oaks Limited Partnership has sold Oaks of Kingwood, an apartment community in Houston. Located at 3415 Havenbrook Drive in Kingwood, a northeast Houston master-planned community, Oaks of Kingwood features 152 apartments. This was the first time the property had been marketed in a quarter century.
The two-story multifamily community was constructed in multiple phases. Completion of the first phase came in 1984, the second in 1999. Apartments range from studio units to one-, two-, three- and four-bedroom floorplans. The units measure an average size of 876 square feet, and the community as a whole offers a total net rentable area of 133,013 square feet. The property’s 99 percent occupancy rate attests to the demand for well-maintained apartment homes in the Lake Houston area of the city.
The disposition was facilitated by Colliers.
Easy access
Oaks of Kingwood’s location provides a number of conveniences for residents. For instance, they can walk to any one of three shopping centers—Rustic Woods Center, Main Street Kingwood and Kings Crossing Shopping Center—within 6 to 10 minutes.
Parks and recreation opportunities reachable within 14.5 miles include Jesse H. Jones Park & Nature Center and Lake Houston Wilderness Park. Other attractions include Old MacDonald’s Farm, Sheldon Lake State Park and Alexander Deussen Park.
Kingwood is one of a number of communities located in the Lake Houston region of Northeast Houston. Others include Atascocita, Humble and Summerwood. Residents are able to readily reach I-69, connecting Lake Houston to Downtown Houston. Other members of the Colliers’ team facilitating the sale were Bob Heard and Jaleel Adatia.
Two months ago, Hunt Capital financed a Houston-area senior housing facility, Oak Lofts Crossing for Seniors, in Stafford, Texas.
