Houston Palms on Westheimer snapped up for $40MHouston Palms on Westheimer snapped up for $40Mhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=1072015-08-19T13:03:00Z2015-08-19T07:45:00Z

HOUSTON - Vende Capital boosted its local holdings with the purchase of Palms on Westheimer Apts. at 6425 Westheimer Rd. from BRT Realty Trust for $39.9 million, or approximately $50,000 per unit.

Located in the Great Uptown Multifamily submarket, the 763,455-sf complex consists of one- and two-bedroom units in 29 buildings.

The Houston-based asset management and real estate investment company assumed $24.1 million of mortgage debt to acquire the 798-unit gated community, which delivered in 1974 and was last renovated in 2012.

CoStar Group
Houston-The Woodlands-Sugar Land
http://www.costar.com/News/Article/Vende-Capital-Snaps-Up-798-Unit-Community-in-Houston/174554Read more at {Source}

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