Spring Branch Community Sells in One Day
Spring Branch has been a hot market for multifamily investment sales this cycle, but it's coming to the end.
Marcus & Millichap VP Jeff Fript just sold one of the last properties that hasn't traded yet—165-unit Walnut Hill. It was only on the market for one day, he tells us, before selling at full list price. It's a value-add acquisition, and Jeff says it was a smooth and easy deal.
Other Spring Branch multifamily sales this year include Gaia's huge 1,400-unit portfolio acquisition in February, 324-unit Cancun Apartments, Omninet Capital's purchase of 466-unit Northwest Corners, Blalock Woods (a local developer plans to redevelop that 17-acre site), and the 117-unit portfolio trade of Spring Gardens and Johanna Square.