Broadstone Sierra Pines, a 341-unit asset located in The Woodlands,was purchased by Olympus Property.
HOUSTON—Prior to Harvey, Houston's apartment market was poisedfor a period of easing. Concessions were rising and vacancies weregrowing due to voluminous new supply and a weaker job market,according to Fannie Mae's latest report.
However, the storm temporarily reversed these trends, with both vacancyand rent growth improving. Interestingly, landlords have not usedHarvey to dramatically raise rents and instead, many cutconcessions. This has resulted in Houston continuing to be acompetitive market for multifamily investment.
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