February 18, 2019
Owner/developer Alliance Residential sold the 351-unit Stella at Riverstone, a Class A, a new multifamily property in Sugar Land, TX. Cardone Capital, a real estate investment firm in Aventura, FL, acquired the asset at 4711 LBJ Pkwy.
Ryan Epstein and Jennifer Ray with Berkadia brokered the transaction between the Dallas-based seller, and the buyer. “Stella at Riverstone is situated in perhaps one of the most difficult areas to build multifamily in the entire Houston metropolitan area, so that was a major factor in driving investor interest in the property,” Epstein said.
Stella at Riverstone opened in 2018, with one, two and three-bedroom units. Community amenities include a 24-hour fitness center, business center, resident lounge, conference room and club room, and an outdoor living area.
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