HOUSTON-Transwestern brokered the sale of 331 units in two separate transactions. Upon closing, Mosaic Residential Inc. ended up with the 182-unit Oaks of Westchase; while a private investment group acquired the 149-unit Clarke Springs.
Transwestern represented seller Pacifica L 49 LLC in the disposition of Oaks of Westchase at 2851 Wallingford, and also negotiated on behalf of seller SCG Multi Apts. Holdings LLC in disposing of Clarke Springs, located at 15706 Clarke Springs Dr.
What’s even more interesting is that, according to a press release describing the transactions, Transwestern anticipates closing an additional 1,870 units during Q1 2013. “Demand for apartment assets remains vibrant in the Houston market. We fully expect 2013 to be another active year,” notes Transwestern’s Clint Duncan, vice president of multifamily services, in the release.