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Fund Sells 378-Unit Arbor Ridge to Midwest Buyer

HOUSTON-Des Moines, IA-based Threshold Capital LLC takes ownership of the 1980s complex in the Champion East submarket, which is recovering from the downturn. The seller was HIG Realty Partners of New York.

By Amy Wolff Sorter | Updated on June 10, 2013

HOUSTON-HIG Realty Partners of New York City has ended a close to four-year hold on the 378-unit Arbor Ridge Apartments, selling it to Des Moines, IA-based Threshold Capital LLC as a value-add play. HIG had owned Arbor Ridge since October, 2009.

The 1980s-built apartment complex is at 22921 Imperial Valley in what’s known as the East Champion submarket. Located near Interstate 45 and sandwiched between the Greenspoint submarket on the south and the booming Spring and The Woodlands submarkets on the north, Champion East was hit harder than other Houston submarkets during the downturn.

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