HOUSTON-Abbey Residential has acquired the Houston/Conroe Multi-Housing Portfolio from an Irving, TX seller. Upon closing, the Alabama buyer staked its ownership claim on 1,222 units across five properties.
The seller was listed as MLQ BK REO LLC. The sales price was not disclosed.
“This portfolio was a great opportunity to make a diversified investment in the Houston market,” says Ryan Epstein, a senior vice president with CBRE, who led the team representing the seller in the transaction. “These assets are located within rapidly growing locations in the Houston metropolitan area.” Though each community was in good condition at the time of the sale, Abbey Residential plans to complete an extensive capital improvement program.
The portfolio consists of:
- Ridge at Willowbrook, 8330 Willow Place Dr. S., Houston
- Woodedge, 10802 Green Creek Dr., Houston
- Aston Brook, 14101 Walters Rd., Houston
- Stone Ridge, 231 Interstate 45 N., Conroe
- Cimarron Park, 2201 Montgomery Park Blvd., Conroe
Representatives involved with the deal were not immediately available for comment.
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