Starlight twinkles $14.35M buy-in in Humble's Eagle CreekStarlight twinkles $14.35M buy-in in Humble's Eagle Creekhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=62702013-09-20T08:52:00Z2013-09-20T07:00:00Z

HUMBLE - The Class A, 412-unit Alexan Eagle Creek has been acquired by Starlight U.S. Multi-Family Core Fund and Core GP Inc. The garden style apartment complex was built in 2009 and is located at 9702 N. Sam Houston Pkwy. E.

Starlight U.S. Multi-Family Core Fund acquired a 35 percent interest in Alexan Eagle Creek for $14.35 million from Core. The remaining 65 percent interest in the property was indirectly acquired by Daniel Drimmer, a CEO of Starlight U.S. Multi-Family Core.

Eagle Creek consists of 19, three story walk-up buildings on a 22.13-acre site and is comprised of one- and two-bedroom suites. As of August 26, 2013, the complex’s occupancy was 93.2 percent.

The property has been rebranded and will now be called Falls at Eagle Creek.

Following completion of the acquisition of Eagle Creek, the Fund now operates and owns interests in a portfolio comprising 1,368 recently constructed, Class A stabilized, income producing multifamily real estate suites located in DFW and Houston.

Read more at The Wall Street Journal.

Wall Street Journal
Houston-The Woodlands-Sugar Land
http://online.wsj.com/article/pr-co-20130916-908850.htmlRead more at {Source}

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