February 9, 2019
Indus Management Group shook hands with 37th Parallel to acquire Vanderbilt Court, a 164-unit, garden-style apartment complex in southwest Houston. The Houston-based Indus Management snagged the Class B asset at 12630 Ashford Point Dr., following approximately $1.2 million in renovations.
Joey Rippel and Chris Young with HFF led the team representing the seller, and also procured the buyer. Indus Management, which specializes in renovating and restoring distressed multifamily properties, currently manages 24 apartment complexes throughout the Houston area.
Vanderbilt Court delivered in 1983, and is situated on more than five acres. The property offers studio units, along with one and two-bedroom townhome units averaging 835 square feet. Amenities include a clubhouse, business and fitness centers, two resort-style swimming pools, a hot tub and sundeck with outdoor dining space.
Photo by Mabry Campbell
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