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Crossbeam Closes 282-Unit Luxury MF Acquisition

The Bethesda, MD-based firm bought the garden-style community from Verde Apartment Communities for an undisclosed amount.

By Jennifer Duell Popovec | Updated on May 01, 2011

HUMBLE, TX-Crossbeam Capital LLC has acquired Woodland Hills, a 282-unit, class A property in suburban Houston. The Bethesda, MD-based firm bought the garden-style community from Verde Apartment Communities for an undisclosed amount. However, industry experts estimate the 18-month-old apartment property traded for close to $30 million.

Situated on 11.2 acres at 3918 Atascocita Rd., Woodland Hills is the eighth apartment building that Crossbeam has completed with its operating partner, Houston-based Concierge Management Services, in the past 16 months. In December, Crossbeam completed its merger with CMS’ parent company, Concierge Asset Management.

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