446-Unit Houston Community Changes Hands
One Real Estate Investment bought the 21-acre asset from West Second Street Associates in a $20.3 million transaction.
Houston—Jeronimo Hirschfeld, developer & CEO of Miami-based One Real Estate Investment, recently acquired a 446-unit multifamily community located in Houston. With a price tag of $20.3 million, the 21-acre Village at Uvalde asset was purchased from West Second Street Associates LLC. Stuart Kapp, partner at Proskauer Rose, assisted with the transaction.
Located at 250 Uvalde Road, Village at Uvalde features one-, two- and three-bedroom floorplans with unit sizes ranging between 660 and 1,158 square feet. Community amenities include controlled access, three swimming pools, five laundry facilities and 900 parking spaces. According to Yardi Matrix, rents at Village at Uvalde range between $555 for a one-bedroom apartment and $859 for a three-bedroom apartment.
“The Houston market is vibrant and dynamic, and remains very attractive to us. Our plans are to remain in the area as we look for future investment opportunities,” said Hirschfeld in a prepared statement.
See origin of the news: https://www.multihousingnews.com/post/one-real-estate-investment-acquires-446-unit-community-in-houston-for-20-3m/