Bayou Parc at Oak Forest, Houston

July 29, 2019 Comments Off on JV Snags 392-Unit Bayou Parc at Oak Forest Views: 268 Houston-Galveston, Texas News

JV Snags 392-Unit Bayou Parc at Oak Forest

Excelsa Properties partnered with Goldcor Capital Partners to buy Bayou Parc at Oak Forest, a 392-unit, multifamily complex on Houston’s northwest side. Tradewind Properties sold the property, situated at 4000 Wantonga Blvd. The transaction took place approximately six months after international investor Excelsa raised $85.6 million through its Excelsa US Real Estate I LP to acquire value-add, multifamily properties.

“Bayou Parc at Oak Forest is a perfect investment for Excelsa, as it is located in one of Houston’s rapidly gentrifying and close-in neighborhoods and enjoys great access to the city’s major employment drivers,” said Excelsa’s Jon Woods.

Bayou Parc at Oak Forest, which delivered in 1974, consists of 36 two-story buildings and a unit mix featuring studios and one, two and three-bedroom apartments. On-site amenities include a fitness center, business center, pool, playground, clubhouse, picnic area and two dog parks. The property was 94% occupied.

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