Edge at City Center, Houston

October 31, 2018 Comments Off on 29th Street Capital Ends Edge at City Center Hold Views: 2682 Houston-Galveston, Texas News

29th Street Capital Ends Edge at City Center Hold

29th Street Capital ended its more than three-year old on the Edge at City Center, a 284-unit apartment complex situated near Houston’s Texas Medical Center. ClearWorth Capital LLC acquired the complex, which was originally named Ashley Park.

The Chicago-based seller acquired the asset at 8410 W. Bartell Dr. in 2015, and spent $2.6 million on capital improvements to rebrand and reposition the 1980s apartment complex. Occupancy was at 94% at the time of the sale.

“The Edge at City Centre generated a high level of interest due to its infill location and value-add potential,” said Chris Young with HFF, who partnered with HFF colleagues Joey Rippel and Connor Phillips on behalf of the seller. “It is well-positioned for future growth due to the lack of workforce housing options in Houston’s urban core, and it’s also in one of Houston’s Opportunity Zones.”

Read More at HFF

Get CRE News in 150 words

For comments, questions or concerns, please contact Amy Sorter

Tags: , ,

Comments are closed.

Send this to a friend