CBRE Facilitates Sale of North Houston Community

Casa Verde Apartments, a 44-year-old, garden-style community, located in north Houston, has been undergoing renovations for the past two years.
Casa Verde Apartments, Houston, Texas

Casa Verde Apartments, Houston, Texas

CBRE Capital Markets arranged the sale of Casa Verde Apartments, a 384-unit community located at 2 Goodson Drive in north Houston. The new owner, Trinity Casa Verde LLC, acquired the asset from Goodson Avenue Investors LLC for an undisclosed price.

Casa Verde, a two-story, garden-style community, was built in 1973 on nearly 16 acres near Interstate 45 North and Beltway 7/Sam Houston Tollway. Recently, the 34-building property underwent a $4.5 million renovation, which included interior and exterior improvements. The unit mix consists of one- to four-bedroom units, ranging in size from 529 to 1,473 square feet and featuring private balconies/patios, fireplaces and washer/dryer hookups in two- and three-bedroom units. Common area amenities include a clubhouse, playground, swimming pool, spa, laundry services and controlled access.

Facilitators’ team

Trinity Private Equity Group and TRI Consulting Group coordinated the acquisition process. Michael Thompson with CBRE’s Debt and Structured Finance Group arranged financing on behalf of the buyer. Clint Duncan and Matt Phillips represented the seller.

Image courtesy of CBRE