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September 4, 2020 Comments Off on Berkadia Arranges Trade of Section 8 Property in South Houston Views: 586 Houston-Galveston, Texas News

Berkadia Arranges Trade of Section 8 Property in South Houston

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Berkadia arranged the sale of Scott Plaza, a 150-unit apartment community in the Sunnyside neighborhood of south Houston. Deal terms weren’t disclosed.

Associate director Scott Bray, senior managing director Ryan Epstein and senior director Jennifer Ray of Berkadia’s Houston office, together with Berkadia Affordable, marketed the property on behalf of the seller, Scott Plaza Associates Ltd. LEDG Capital purchased the property.

“Scott Plaza is located in a qualified census tract and designated Opportunity Zone, and the property maintains a 20-year project-based Section 8 HAP contract covering 70% of its units,” said Bray. “The acquisition furthered LEDG Capital’s commitment to preservation of existing affordable housing stock as an essential element of community development.”
 
Located at 9703 Scott St. in Sunnyside, Scott Plaza was built in 1970 and is a two-story garden-style property. The buyer plans to make additional improvements to the property and surrounding area.

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