Sale of 270-unit apartment community in south Houston closed by HFF
HOUSTON, TX – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of Ranch at City Park, a 270-unit, Class A multi-housing community in south Houston.
HFF marketed the property exclusively on behalf of the seller, Gaia Real Estate. A Chicago-based private equity group purchased the asset for an undisclosed amount.
Ranch at City Park is situated on 13.76 acres at 11900 City Park Central Lane, approximately 10 miles south of Houston’s central business district. In addition to its location along Highway 288, the property provides nearby access to other major thoroughfares including Beltway 8, Loop 610, the Fort Bend Parkway Toll Road and Highway 90. The property has one- and two-bedroom units averaging 893 square feet each and features amenities including a resort-style swimming pool, outdoor fireplace, picnic and grilling area, 24-hour fitness center, clubhouse, game room with billiards table, theater room, cyber café and detached garages.
The HFF investment sales team representing the seller was led by managing director Chris Curry, senior managing directors Todd Stewart and Todd Marix and associate director JC Clemens.
About Gaia Real Estate
Gaia Real Estate is a full-service real estate investment company with integrated in-house property and asset management capabilities. The company has under management a portfolio of $2.1 billion in real estate assets, including 16,740 apartments and approximately 600,000 square feet of office space located throughout the United States.
Gaia invests in a range of real estate opportunities on behalf of, and alongside, leading global insurance companies, pension funds, private equity funds, foundations and high-net-worth individuals.
The firm specializes in value-added transactions, complex situations, creative structures and “out-of-the-box” solutions. Gaia is headquartered in New York City, with its Property Management headquarters in Houston, Texas and regional offices in New Jersey and Connecticut. The team comprises over 200 professionals with multidisciplinary skills and experience.
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 22 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.
Holliday Fenoglio Fowler, L.P. acting by and through Holliday GP Corp, a Texas licensed real estate broker.