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B and C Buyers Continue to Regard Location as Key

HOUSTON—Demand for class-B and C apartment assets remains vibrant in the Houston market, with the location of each of the assets of significance to investors, a mix of yield and value-add buyers.

multifamily Waterford Place is well located in the coveted Spring Branch Independent School District.

HOUSTON—Typifying the demand for class B and C multifamily that is occurring in the metro, three multifamily properties totaling 786 units have recently sold. Transwestern’s Houston multifamily investment services group’s managing director Ed Cummins, senior vice president Tim Gregory,  vice presidents Ryan Mendez and Kenady Davis, and assistant vice president Lupe Olivares represented the sellers in all of the transactions.

Cummins tells GlobeSt.com: “The location of each of the assets was significant in their appeal to investors. Waterford Place is well located in the coveted Spring Branch Independent School District. Sherwood Glen is located in the quickly gentrifying Oak Forest neighborhood in Northwest Houston. Chateau Nederland is located in the Golden Triangle of East Texas, benefitting from the still-booming downstream energy business and the project is zoned to the most highly-rated school district in the area.”

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Lisa Brown

Lisa Brown

Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.

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