Buy Apartment In Houston
PCCP provided an $86.3 million senior loan to Madera Residential for the acquisition and renovation of the 620-unit Domain and Lofts at CityCentre apartments at 811 Town and Country Blvd. The property is 94 percent leased. Domain is in one building with 370 units and Lofts has two residential buildings totaling 250 units. The ground floor retail is not part of the acquisition. Madera Residential owns and manages 14,000 units in Houston and Dallas-Fort Worth.
buy apartment in houston
Allied Orion Group has been chosen to manage Los Prados Apartments, a 264-unit apartment community at 125 Dyna Drive in north Houston. The property is owned by GenWealth Capital Group.
New York-based Lone Star Capital Group purchased Parc at Champion Forest, a 232-unit apartment complex at 15330 Bammel North Houston Road. Ryan Epstein and Jennifer Ray of Walker & Dunlop represented the seller, Commerce Capital Partners. Paul House and Larry Perez of Walker & Dunlop arranged financing.
Natixis Corporate & Investment Banking provided a $50.69 million loan to affiliates of SRJ Real Estate Investments for the acquisition and renovation of The Grayson at Baybrook, a 322-unit apartment complex at 19100 Glenwest Drive, Friendswood. The loan will be used for the acquisition of the property and unit renovations. Tucker Knight and Carl Rasmussen of Berkadia arranged financing.
Average monthly rents range from $2,125 for one-bedroom units to $4,466 for three-bedrooms, according to Thorofare. The average size for the apartments is 1,133 square feet for one-bedrooms, 1,574 for two-bedrooms and 2,112 for three-bedrooms.
The deal marked the second loan that Los Angeles-based Thorofare has provided for Versity in the past two months. It closed a fixed-rate acquisition loan of $44 million with a seven-year term in late May for Astoria at Celebration, a luxury apartment community near Orlando, Fla., developed by Walt Disney Company.
Houston-based realtor Alexandra Torres, a team leader at Arise Realty Group, has experienced these changes firsthand. She decided to move from her home, an apartment near downtown, when the management tried to raise her rent by about $200 per month. Torres helps clients buy and rent homes, so she thought she could negotiate. "But the management was firm," she said. "Things have really changed since the beginning of the pandemic."
But try not to let limited parking, availability and rising costs discourage you. Houston's rental market is still more accommodating than many cities in the U.S. In a BestPlaces.net comparison, Houston's average rent was a little over $200 less than Austin's ($1,518 compared to $1,730). It's also more affordable than Dallas and Phoenix, where average rental prices are around $1,660. In Dallas, 4.7% of apartments were vacant, compared with a scant 2.4% in Phoenix.
"You'll get more bang for your buck," Aguilar said, "and, they're closer than you think. East Pearland used to be considered a rural area. Now, it's practically an extension of Houston." You'll be hard-pressed to find a two-bedroom apartment for under $2,000, he added. "But for that price point, you'll get more space in a suburb than you will in the city."
Dixon-Dudley said you should work with a realtor or an apartment locator to help with your search. Besides knowing their market, they often have relationships with property owners and managers, and they know what documentation to submit, she said. So, you can be more competitive when applying. For instance, if you've got a dog, Dixon-Dudley said that you should write a pet resume that includes training and references.
The Nguyens didn't hire an apartment locator, but they were advised by one. When the Nguyens visited Houston, they had 11 showings lined up during a 48-hour period. "We saw all of them," Jason said. "It was a whirlwind tour, and exhausting."
Are you looking to invest in multi-family properties in Texas? Houston multi-family homes for sale including apartments are gaining popularity among investors in real estate. Because more people are moving to Houston every year, the demand for multi-family homes is ever-increasing. Such good news is music to the ear for the Houston multi-family market.
The buyer, a New York investment group affiliated with CMI Developers, has experience in historic redevelopment and apartment conversions. The tower was completed in 1962. The age and prominence of the Exxon building might enable the developers to obtain tax credits designated for redeveloping historic buildings.
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Pets may be permitted with an additional fee and deposit; dogs are restricted by breed. Dog breeds not permitted are Staffordshire Bull Terriers, Dobermans, Rottweillers, Chow Chows, Pit Bull Terriers and any mixes thereof. Resident must sign a separate Animal Addendum and provide a copy of the pet's veterinarian records, including weight, and a picture of the pet, prior to approval. No more than two pets allowed per apartment. Pet fees and deposits are on a per pet basis. Pet policies and guidelines are strictly enforced.
There is no application for this program. Properties bought will be selected by the Department according to an overall plan for flood mitigation, which will be developed alongside the City of Houston Public Works Department. To learn more about the program generally, please contact Shea Adolphin (firstname.lastname@example.org). If you are a property seller interested in the Harvey Buyout Program, please contact Rupa Sen (email@example.com). 041b061a72