Aria at Rollingbrook is a 240-unit class-A apartment community.
BAYTOWN, TX—Baytown is the home of more than 20 petrochemical facilities including the nation's biggest petrochemical plant, ExxonMobil Baytown, which consists of four separate facilities. Drever Capital Management recently acquired Aria at Rollingbrook, a 240-unit class-A apartment community previously known as Watercolor, at 1700 Rollingbrook Dr., a half-mile from ExxonMobil Baytown, and adjacent to Chevron Phillips 66 Chemical's joint-venture Cedar Bayou facility. Drever purchased the multifamily asset from The Leyendecker Group of Houston. The price was not disclosed.
“This is more than an acquisition of a year-old class-A stabilized apartment community with an excellent I-10 location and a high 90% occupancy,” explains Noah Drever, senior managing director of Drever Capital. “It is a strategic investment for our fund in one of Houston's strongest suburban economies that's driven by the downstream petrochemical sector.”
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
