June 22, 2020
Los Angeles-based Banyan Residential recently acquired Lofts at the Ballpark, a 375-unit Class-A apartment property in downtown Houston. It represents Banyan’s first acquisition in the Houston market, which will bolster the company’s presence in Texas alongside development property holdings in Dallas.
Banyan Residential closed the transaction in conjunction with locally based Marble Capital as its financial partner. Financial terms of the deal weren’t disclosed.
The four-story complex, developed by Hanover Capital in 2001, is located at 610 Saint Emanuel St. one block from Minute Maid Park and BBVA Stadium, the respective home facilities of the Houston Astros and two professional soccer clubs. It’s immediately adjacent to light rail access and also convenient to Interstate 69.
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