The CB Richard Ellis multifamily team of G. Craig LaFollette, J. Todd Stewart and Todd Marix, all senior vice presidents in the Houston office, have represented the seller in the apartment deal. The complex has 313 units and is a class B property.
CB Richard Ellis' Houston team recently reported that its Market Index Brief for Houston's multifamily market shows significant improvements in occupancy, absorption, rental rates and construction activity. La Follette puts occupancy rates at 91.3%, the highest, he says since 1998. The team has closed on several apartment complex sales this year, including the Verandha at Centerfield, Bayberry Tree and Madison Park apartments.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
