News
Out-of-State Investors Pick Up 3 More Value-Add Multifamily Assets
October 26, 2016
Courtesy of Transwestern
Transwestern’s Houston Multifamily Investment Services Group completed the sale of three multifamily properties totaling 773 units in the Class-B and C markets.
“We continue to see high demand for Class-B and C apartment assets in Houston,” said Transwestern’s Ed Cummins. “The projects all were purchased by out-of-state investors looking for yield with some value-add component. These transactions demonstrate continued long-term confidence in the local apartment market.”
The three assets involved were Park Hollow, a 172-unit community at 4343 South Shaver in Houston, Maxey Village, a 409-unit community at 666 Maxey Road in Houston, and Park at Cedar Lawn, a 192-unit community at 4400 Avenue North in Galveston.
