HOUSTON (CoStar Group) – Praxis Residential has purchased the 276-unit Carriage Place Apts. from LYND.
Carriage Place is on 11.3 acres at 505 Wells Fargo Dr. near I-45 in the outlying Harris County multifamily submarket. The complex has 156 one-bedroom and 120 two-bedroom apartments ranging from 587 to 1,283 sf across 26 two-story buildings.
The California-based firm will invest over $9,000 per unit in interior renovations and property upgrades.
Cushman & Wakefield handled the disposition on behalf of LYND.
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