Kairoi Residential Buys Again in Texas
The company continues its lively acquisition pace with the purchase of a 308-unit community in Houston Heights.
By Timea Matyas
Broadstone City Park, Houston Heights
Kairoi Residential has acquired the 308-unit Broadstone City Park in Houston. According to Yardi Matrix, Alliance Residential Co. sold the property, which it had owned since 2014.
At the time of the sale, the asset’s 308 units included 201 one-bedroom, 105 two-bedroom and 2 three-bedroom units, with an occupancy rate of 96 percent. Common-area amenities include a swimming pool, fitness center and controlled access.
Located at 1640 E. TC Jester Blvd., the property is four miles northwest of downtown Houston. The Heights is Houston’s desirable community with access to major employment centers. Kairoi plans to competitively position the asset and capitalize on the city’s continued expansion.
The company’s Texas portfolio also includes four San Antonio assets acquired earlier this year, three of which are close to USAA’s headquarters and South Texas Medical Center. The fourth property is located near Lackland Air Force Base, bringing Kairoi’s Texas footprint to 6,621 multifamily units.
Image courtesy of Kairoi Residential
