Sold! Class B, 235-unit The Broadmead near the Astrodome

​​HOUSTON – Nitya Capital, a Houston multifamily firm, purchased a 235-unit Class B multifamily community near the Astrodome.

The project, called The Broadmead, located at 2801 Broadmead Dr., is 95 percent leased.

Houston’s Class B multifamily market, which is 95.5 occupied, is attracting significant interest from investors, says JLL’s Chip Nash.

“Houston’s Class B multifamily market remains strong despite economic headwinds,” said Nash.

“Class B properties, like the Broadmead, are consistently occupied by a large segment of the population, presenting buyers with a solid investment and promising value-add opportunity.”