HOUSTON (Marcus & Millichap) – Marcus & Millichap has arranged the sale of Broadway Square Apartments, the largest single multifamily asset in Texas. Both the buyer and seller were from out of state.
The 2,470-unit apartment complex is on about 69 acres at 8751 Broadway St. next to William P. Hobby Airport. Units range from 504 to 1,206 sf.
"In short term, the buyer will focus on creating revenue growth through more intensive management and interior and exterior upgrades," said Jeffrey Fript, vice president for investments with Marcus & Millichap.
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