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Houston: JMG Realty buys, transforms Century Hermann Park unitsHouston: JMG Realty buys, transforms Century Hermann Park unitshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=110192015-11-02T06:00:00Z2015-11-02T15:00:00Z

​​HOUSTON - JMG Realty, Inc. announced the acquisition of Century Hermann Park Apartments — a 224-unit apartment community located in The Texas Medical Center of Houston — through a joint venture partnership.

Built in 2003, Century Hermann Park is a podium mid-rise apartment community featuring four residential levels above two stories of garage parking.

Recently, the property implemented a value-add program that included stainless steel appliances, 2” blinds, brushed nickel hardware, plank flooring, updated track lighting and granite countertops. 

To date, 94 units have been upgraded and are capturing rents premiums between $115 and $225 per month.

Average household income within a one-mile radius of Century Hermann Park is $101,553, and surrounding neighborhoods such as Riverside Terrace, Museum District and West University feature home values exceeding $8 million.

Century Hermann Park’s proximity to Hwy. 288 connects residents to both Downtown Houston as well as other major thoroughfares including I-59, Hwy. 610, and I-45. 

The property will be rebranded as Verdir at Hermann Park.

Houston Chronicle
Houston-The Woodlands-Sugar Land
Multifamily
http://www.chron.com/homes/article/JMG-Realty-Inc-Announces-the-Purchase-of-6592324.php

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