(Read more on the multifamily market.)

HOUSTON-A San Antonio-based investment group has brought a 3,937-unit, 13-property portfolio to market. The portfolio of Houston, Dallas and San Antonio assets are un-priced, but the class A collection is valued at slightly more than $400 million.

David Mitchell, principal with Apartment Realty Advisors Houston office, the seller has collected the complexes in the past three to five years through one-off acquisitions. He says Internacional Realty felt the timing was right for a sale because Texas is a target state for many investors.

“Ten of the 13 were developed on or after 2000 and all were built by high-end developers,” Mitchell says, adding all are in high-growth locations. He tells GlobeSt.com that the seller would like to see the 94%-occupied portfolio sold in one fell swoop, but viable one-off bids will be considered.

Mitchell says Internacional Realty hopes to close out the disposition by the end of August. The call for offers is June 22. The properties are being offered on an all-cash basis.

Seven properties are located in Houston. They are the 210-unit Beverly Wilshire at 7550 Wilshire Place Dr.; 356-unit Calais at Courtlandt Square at 3210 Louisiana St.; 345-unit Meyer Park at 9701 Meyer Forest Dr.; 296-unit Meyer Park Lakeside at 9550 Meyer Forest Dr.; and 216-unit Seasons at 6969 Hollister Rd. Complexes in nearby Richmond are the 252-unit Villas at River Park West at 21811 Wildwood Park Rd. and 288-unit Reserve at River Park West at 22155 Wildwood Park Rd.

In the Dallas/Fort Worth area, Internacional Realty is selling the 280-unit Cambria at Coyote Ridge at 4230 Fairway Dr. in Carrollton; 582-unit Gardens at Vail at 17811 Vail St. in Dallas; 378-unit San Simon at 3501 Walnut Hill Lane in Irving; and 216-unit Summerbrook at 7000 N. Beach St. in Fort Worth.

The San Antonio metro properties are the 314-unit Palermo at 12235 Vance Jackson Rd. in San Antonio and the 204-unit Westshore Colony at 770 Interstate 35 N. in New Braunfels. The ARA team includes principals David Oelfke, David Wylie and Matt Rotan.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.