Houston multifamily strong in Spring Branch submarket

HOUSTON – Transwestern’s Houston Multifamily Investment Services Group completed the sale of a two-property multifamily portfolio totaling 117 units in Spring Branch —  near the Katy Freeway, west of Loop 610.

Transwestern said the Spring Branch submarket had an occupancy rate of 94.1 percent, compared to a citywide rate of 91.4 percent. Monthly PSF rentals rates for Class A, B and C were $1.42, $1.04, and 85 cents, respectively. 

Demand for well-located assets in the Spring Branch submarket remains high.

Transwestern said the off-market deal involved the sale of Spring Gardens, a 79-unit, garden-style community located at 1714 Wirt Rd. and Johanna Square, a 38-unit, garden-style community, located at 1715 Johanna Dr.

Don’t forget! Click Transwestern’s Houston Metro Mid-Year Report and see page 22 for multifamily data.