JLL Closes 238-Unit TX Community Sale

M-DW LP sold a 238-unit multifamily community in Galveston, Texas. Gulf Coast Kington Properties purchased the 15-building property, which includes one- and two-bedroom units.

Driftwood-01JLL has arranged the sale of Driftwood Apartments. Located at 7019 Lasker Drive in Galveston, Texas, the 238-unit multifamily community was bought by Gulf Coast Kington Properties. M-DW LP sold the 15-building property, which features one- and two-bedroom units.

Managing Directors Chip Nash, Greg Austin and Vice President Bob Heard of JLL arranged the transaction. “Driftwood Apartments provides the buyer a great opportunity to capitalize on the growth across the Houston-Galveston region,” said Nash. “This property offers a reliable value-add opportunity due to the integrity of the physical structure, desirable location and room to increase rents.”

Interstate 45 is less than two miles away. The Pleasure Pier and Galveston’s historic Strand District are also nearby. Amenities include fully equipped kitchens, faux wood floors, ceiling fans, washer and dryer connections, walk-in closets, private patios and balconies.

Image courtesy of JLL