HOUSTON—CBRE Capital Markets' Investment Properties team has arranged the sale of Broadstone Post Oak, a five-story, class A+ multifamily community in Houston's Galleria district. Strategic Capital purchased the asset for an undisclosed price.
Ryan Epstein, Clint Duncan and Wes Breeding of CBRE's Houston office represented the seller in the transaction.
“From identifying the investment opportunity to closing, the swift acquisition process for this transaction has validated our multifamily expansion strategy. We are extremely pleased to mark our entry into the Texas market through this milestone transaction,” said Ning Yuan, chairman and president of Strategic Capital and China Construction America.
Alliance Residential Partners developed Broadstone Post Oak in 2014 on one of the last remaining land tracts along the prestigious Post Oak Drive in the Houston Galleria.
“This apartment community is one of the best we have in Houston—it has all the amenities of a resort with the interior finishes of a home in River Oaks. The attention it received from the investment community demonstrates that Houston has become a major market where sophisticated investors want to have exposure,” said Epstein, executive vice president, CBRE.
Located at 3100 Post Oak Boulevard, Broadstone Post Oak units offer residents a variety of custom home features including two flooring and countertop options, three kitchen backsplash options and custom solar shades. Select units include walk-in closets and walk-in showers, built-in beverage coolers and city or lakeside views. The property also includes a structured garage with 379 unreserved parking spaces.
Luxury community amenities include a resident clubhouse, full-swing golf simulator, 24-hour athletic center, professional spinning facility, private massage center and yoga space, poker lounge and others.