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Transwestern Completes Sale Of 3 Assets, Totaling 786 Units

Waterford Place

Transwestern's multifamily team completed the sale of three properties totaling 786 units. Transwestern managing director Ed Cummins, Tim Gregory, Ryan Mendez, Kenady Davis and Lupe Olivares repped the sellers. 

The three transactions:

  • Waterford Place Apartments, a 552-unit community at 3125 Crestdale Drive in Houston, purchased by SPRE Waterford.
  • Chateau Nederland, a 178-unit community at 1003 Avenue B in Nederland, was purchased by Roco Chateau Nederland.
  • Sherwood Glen Apartments, a 56-unit community at 3805 Sherwood Lane in Houston, was purchased for an undisclosed amount by APEG Sherwood.

“Demand for Class-B and C apartment assets remains vibrant in the Houston market,” Ed said. “These deals represented a blend of local and national capital, as well as a mix of yield and value-add buyers."