HOUSTON — Atlanta-based Apartment Realty Advisors (ARA) has brokered the sales of two Houston apartment communities totaling 885 units. City West Apartments is a 510-unit community located at the intersection of Westheimer and Hayes Road in the city’s Westchase submarket. The property comprises 26 three-story buildings and an office/clubhouse building on 23.75 acres. The transaction also included a 1-acre land parcel valued at $1.5 to $2 million. David Mitchell, David Oelfke, David Wylie and Matt Rotan of ARA’s Houston office represented the seller, New York-based Sentinel Real Estate Corp. The buyer, Chicago-based TVO Realty, plans to complete interior upgrades to the units in an effort to increase rents.
The second property, The Lofts at the Ballpark, is a 375-unit community located downtown near Minute Maid Ballpark. The luxury community features two resort-style swimming pools with sundecks, a cinema room with stadium seating, a fitness center, gated garage parking, and a business center that includes a conference room, an Internet café and a coffee bar. The same Houston ARA team represented Sentinel Real Estate Corp. in the sale to Englewood, Colo.-based Archstone-Smith. The acquisition prices in both transactions were undisclosed.

Content Partners
‣ Arbor Realty Trust
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Northmarq
‣ Pavlov Media
‣ Walker & Dunlop

Subscribe to the newsletter

Webinars on Demand

Read the Digital Editions

Northeast Multifamily & Affordable Housing Business

Midwest Multifamily & Affordable Housing Business

Western Multifamily & Affordable Housing Business

Texas Multifamily & Affordable Housing Business

Southeast Multifamily & Affordable Housing Business

Heartland Real Estate Business

Northeast Real Estate Business

Southeast Real Estate Business

Texas Real Estate Business

Western Real Estate Business

Shopping Center Business

California Centers

Student Housing Business

Seniors Housing Business

Featured Properties