HOUSTON - Atlanta-based Post Apartment Homes LP has acquired a 3.9-acre development site at 3131 West Loop South from Moody National Companies for $13.1 million. The parcel has a 239,045-sf vacant hotel and a 150-space parking garage on it.
The original plan was to demolish the hotel in its entirety and build a new 390-unit multifamily complex. However, the buyer is going to hold the land for future development.
Read more at CoStar Group.
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