HOUSTON—A recent survey of commercial real estate investors ranked Houston as a top five target for investment among US metros. Clocking in at number four, this is a three-slot jump from 2017, according to CBRE's 2018 Americas Investor Intentions Survey.

The survey, which covered all asset types, shows that 88% of investors plan to either maintain or increase spending in 2018—up from 83% in 2017, GlobeSt.com learns. The top three investments of choice were industrial, multifamily and office.

Industrial is increasingly the preferred property type, cited by 50% of investors as the most attractive investment in 2018, up from 38% in 2017.

Cited by 20% of investors, multifamily is the next most attractive property type, though its share decreased from last year.

Finally, 14% of investors said they are planning to invest in office product in 2018.

In the popular multifamily investment category, North Park Apartments, a 192-unit multifamily community located in the greater Greenspoint area, was acquired by Clear Sky Capital for an undisclosed price. North Park Apartments consists of one- and two-bedroom units.

Interiors feature new appliances, wood blinds, brushed nickel hardware and lighting, ceiling fans, ceramic tile floors, walk-in closets, private patios and balconies, and separate dining alcoves. Residents have access to community amenities such as the swimming pool, laundry facilities, business services and playground.

North Park Apartments is a 20-minute drive to The Woodlands, and in close proximity to the shopping, dining and entertainment venues of downtown Houston. The property is located near Interstate 45 for commute access and is a 10-minute drive from Bush Intercontinental Airport.

CBRE capital markets' debt and structured finance team arranged $10 million in financing for the purchase. Andrew Behrens and Jesse Weber of CBRE's San Francisco office secured the 10-year, partial-term interest-only fixed-rate Goldman Sachs loan on behalf of Clear Sky Capital.

Instant Insights /

Industrial, Multifamily Top Investor Wish Lists

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