HFF Arranges Class A Community Sale in Houston

GPI Real Estate Management Corp. bought this one- and two-bedroom apartment community located in the heart of Houston’s Energy Corridor. HFF arranged the transaction.
H6 Apartmens Pool
H6 Apartmens Pool

Abacus Multi-Family Partners II LLC—an affiliate of Abacus Capital Group LLC—sold a Class A, 293-unit mid-rise multifamily asset in West Houston. Located at 14805 Grisby Road, next to the intersection of Interstate 10 and Highway 6 in the heart of West Houston’s Energy Corridor, H6 Apartments was purchased by GPI Real Estate Management Corp. The property is within walking distance of a high-end office park, several dining and retail centers and George Bush Park.

Managing Director Chris Curry and Senior Managing Director Todd Marix of HFF’s investment advisory team represented the seller. “This transaction is a perfect example of Houston commercial real estate’s resilience following Hurricane Harvey,” Curry said. “Investment interest is still flowing throughout the market, and H6 proved particularly attractive to investors due to its recent completion date in an area of Houston with a declining supply pipeline and above market demand for multifamily units, which was only exacerbated by units taken offline in the Houston MSA following the hurricane.”

The building features one- and two-bedroom apartments. Amenities include either faux wood or concrete flooring, European cabinetry, granite countertops, stainless steel appliances and private yards in select units. The property also comprises a sparkling lounge pool, a courtyard with Zen garden, a fitness center, a conference space, a business center and a game room.

Image courtesy of Steve Hinds