Nov 15, 2013
Houston, Cypress, Kingwood, Spring apts. sell for $192M
HOUSTON - Steadfast Income REIT completed the value-add acquisition of a six-property apartment portfolio in a two-part transaction that added another 1,692 apartment units to its Texas holdings. All properties...
HOUSTON – Steadfast Income REIT completed the value-add acquisition of a six-property apartment portfolio in a two-part transaction that added another 1,692 apartment units to its Texas holdings.
All properties included in the portfolio sale were developed by the manager and seller, Atlanta-based Davis Development, and were built between 2004 and 2008. Steadfast plans to make several cosmetic upgrades to the units as they turn over.
Below are the properties included in the sale.
| City | Property | Address | Units |
Price (million) |
|---|---|---|---|---|
| Cypress | Waterford Place at Riata Ranch | 10880 Barker Cypress Rd. | 228 | $23.40 |
| Houston | Carrington Park at Huffmeister | 14600 Huffmeister | 232 | $25.15 |
| Houston | Carrington Place | 12700 FM 1960 W. | 324 | $32.90 |
| Houston | Villas at Huffmeister | 15050 Copper Grove Blvd. | 294 | $37.60 |
| Kingwood | Villas of Kingwood | 300 Forest Center Dr. | 330 | $40.15 |
| Spring | Carrington at Champion Forest | 13313 Cutten Rd. | 284 | $33.00 |
Read more at CoStar Group and Securities and Exchange Commission.
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