The Multifamily Group has arranged the sale of Winsome Court and Tiffany Square Apartments, two 1973-built communities totaling 188 units in Houston. Greg Miller of TMG represented the two separate sellers, and Bryce Smith procured the single buyer, a San Francisco-based private owner.
Vende Capital sold Tiffany Square Apartments after 10 years of ownership. The asset is subject to a $5.5 million loan provided by Ameritas Life Insurance Company, Yardi Matrix data shows.
Capitalizing on proximity
Spanning 4 acres, the 105-unit Winsome Court comprises eight buildings with a mix of one-, two- and three-bedroom apartments, ranging from 771 to 1,245 square feet. Property amenities include a fitness center, clubhouse, pool, laundry facilities and 225 parking spaces.
Located at 6111 Winsome Lane, the property is within 2 miles of Interstate 69, connecting it to downtown Houston. Uptown Houston is 2 miles away from the asset, offering residents easy access to various dining and retail options, including The Galleria shopping center.
Situated at 3030 Greenridge Drive, Tiffany Square Apartments is just one block away from Winsome Court, allowing the buyer to operate the two communities as a single asset. The property encompasses four buildings and 83 units with one- and two-bedroom floorplans, averaging 832 square feet. Community amenities feature a playground, swimming pool, four laundry facilities and covered parking.
At the end of last year, TMG brokered the sale of Villa Sierra and Wyndchase Apartments, totaling 393 units in El Paso, Texas, on behalf of ExchangeRight Real Estate.