$146M Tag Hanging on 4,938-Unit Multifamily Portfolio

HOUSTON-Archon Group and Goldman Sachs are selling their 4,938-unit CityView portfolio. The 16-property portfolio, concentrated in the Greenspoint submarket, has an asking price of $146 million or $29,364 per unit.

The 3.7-million-sf, class B portfolio, which is about 82% occupied, is located within a mile radius encompassing Imperial Valley Drive, Greens Road and Hardy Road. The properties, built between 1977 and 1984, range from 881 units to 59 units.

“This is a serious value play because of the price per sf and the price per unit,” says Matthew Rotan, principal of the local office of Apartment Realty Advisors, who is marketing the portfolio. “This is an opportunity for someone who believes that the Houston market is poised for growth.”