HFF is marketing five multifamily complexes in Sugar Land, a market where multifamily developments are limited. The seller, whose name was not disclosed, put up a total of 1,410 units in the First Colony master planned community for sale.
The properties are: Regency at First Colony, Foundations at Austin Colony, Foundations at Edgewater (pictured), Foundations at Lions Head and Foundations at River Crest. The five properties combine for 68% market share in the area.
Multifamily units have been a contentious issue in Sugar Land. Last fall, voters petitioned against 900 units in a new mixed-use development.
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