December 15, 2020
Berkadia arranged the sale of Chartwell Court, a 243-unit garden style community in north Houston. Senior managing director Ryan Epstein, senior director Jennifer Ray and associate director Scott Bray of Berkadia’s Houston office listed the property on behalf of Los Angeles-based National Asset Services. The buyer is San Antonio-based REEP Equity.
“The property’s significant value-add upside and the lack of new construction in the area illustrated a proven asset with fundamentals to maintain high occupancy,” said Epstein. “With no conventional properties in lease-up, under construction or proposed within proximity of the community, Chartwell Court reflects Houston’s advantageous multifamily market.”
Built in 1995, Chartwell Court is located at 15100 Ella Blvd. One- and two-bedroom units averaging more than 1,000 square feet include walk-in closets, faux-wood flooring, full-size washer/dryer and private patio/balcony with storage. The pet-friendly community features a swimming pool, clubhouse, professional business center, fitness center and social areas with grills.
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