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Indicators Point to Multifamily Recovery

Houston’s multifamily market is poised for a recovery in the near term with apartment absorption expected to exceed 28,000 units in 2017, occupancy expected to trend upward and rents recovering.

Modera Spring Town Center Modera Spring Town Center is a 396-unit multifamily asset just outside of Houston.

SPRING, TX—At the midway point in the year, indicators point to a multifamily recovery as investor appetites continue to build. One such investor target is Modera Spring Town Center, a 396-unit multifamily asset just outside of Houston, located at 21801 Northcrest Dr. Developed in 2014, the garden-style multifamily homes are accessible to residents of north Houston, in close proximity to the new 385-acre Exxon Mobil campus and an HP corporate campus currently under construction.

Abbey Residential Services Inc. recently acquired the property from Mill Creek Residential. The Houston-based Berkadia team of Ryan Epstein, senior managing director, Jennifer Ray, director, Wes Breeding, associate director, and associate Scott Bray, represented the seller in the transaction.

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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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