Live like a star at Broadway Square Apartments in HoustonLive like a star at Broadway Square Apartments in Houstonhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=7692015-06-16T13:49:00Z2015-06-11T08:00:00Z

HOUSTON - A group of out-of-town real estate investors has purchased Broadway Square Apartments, a 2,470-unit apartment complex near Hobby Airport, with the long-term vision to turn part of the massive property into a mixed-use development featuring Houston’s first automated parking garage.

The unit mix features one- and two-bedroom floor plans, 80 of which are townhomes, ranging in size from 504 sf to 1,206 sf.

It features four separate management offices, 11 swimming pools, 28 laundry rooms and a community playground.

Jesse Levine, speaking on behalf of the new owners, told the Houston Business Journal that they have a short-term and a long-term vision for Broadway Square Apartments and the adjacent Savannah Apartments, which they purchased in 2013.

The two properties span about 80 acres on a street and neighborhood that the City of Houston and nonprofit Scenic Houston has targeted for redevelopment and beautification as Hobby Airport expands to include a new international terminal.

Located on the Houston metropolitan bus line at 8751 Broadway St., Broadway Square Apartments was constructed in phases from 1976 to 1979 on 69 acres. It is less than a mile from Hobby Airport.

The property is the largest single multifamily asset in Texas.

Read more at Marcus & Millichap Real Estate Investment Services and the Houston Business Journal.

tag: Houston NewsTalk apartments, Houston Market Research see the Multifamily category.

Marcus & Millichap Real Estate Investment Services
Houston-The Woodlands-Sugar Land
http://rebusinessonline.com/mm-arranges-sale-of-largest-single-multifamily-asset-in-texas/Read more at {Source}

 Search NewsTalk Texas