June 7, 2018
A NewQuest Properties entity, A-S 143 SC Ranch LP, sold the first of five shovel-ready development sites in the Commercial Reserves at Shadow Creek Ranch in Pearland, TX. The buyer of record, Larkspur Shadow Creek LLC, will begin construction in summer 2018 on a seniors housing community on the 9.5-acre site at Shadow Creek Parkway and Kingsley Drive in this south Houston suburb.
Brad LyBrand and Brad Elmore with NewQuest, represented the seller, a single-purpose entity of NewQuest Crosswell. Kennedy Davis of BWH Capital LLC brokered the transaction for the buyer. “Seniors-related housing product is one of the most active residential categories that we’re seeing in this market,” LyBrand said. He added that there are five contracts in hand for the other parcels at Commercial Reserve at Shadow Creek Ranch.
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