Investors Spring in Houston’s Spring Branch

Activity continues to soar in Space City as the multifamily investment services group of Transwestern announced that it has closed the sale of a 117-unit residential portfolio

Activity continues to soar in Space City, as the multifamily investment services group of Transwestern announced that it has closed the sale of a 117-unit residential portfolio located within the Spring Branch submarket.

Spring Gardens

Spring Gardens

The portfolio included a 79-unit, garden-style community called Spring Gardens and a 38-unit community dubbed Johanna Square. While terms of the deal were undisclosed, Yardi Matrix property records show that the larger community was acquired by Jose Berlanga for $5 million. Managing Director Ed Cummins and Senior Associate Ryan Mendez, both with Transwestern, represented the seller, OSD Ltd.

“Demand for well-located assets in the Spring Branch submarket remains high,” Mendez said in a prepared statement. “Our team has completed three sales within the area in the last six months, and we anticipate continued activity over the near  term.”

Image courtesy of Transwestern