One Real Estate Investment acquires Sunswept Townhomes
Houston, Texas – Jeronimo Hirschfeld, President and CEO of One Real Estate Investment (OREI), announced the purchase of a 211-unit townhome style apartment community in Houston, Texas.
Sunswept Townhomes built in 1981 is located at 12247 Sunset Meadow Ln, Houston, TX 77035 is conveniently located 16 miles southwest of Downtown Houston, and within 10 miles of The Galleria, a thriving retail, dining, and entertainment corridor. OREI intends to do exterior and amenity renovations which include but are not limited to updating the clubhouse, pool, landscape, asphalt, roofs, gutters and paint. In addition to exteriors, OREI will implement an interior unit renovation program, upgrading counters, cabinets, appliances, lighting and plumbing fixtures, and kitchen backsplashes.
In addition, One Real Estate Investment has two assets, 412 units, within .5 miles of Sunswept Townhomes. These assets, Westbury Crossing and Summit at 7700, were acquired by OREI in 2018 and then recapitalized in Q4 2019.
The deal was brought to us in an off-market by Greystone NAA. OREI was selected as the buyer without a formal sales process due to the firm’s reputation, experience in the submarket, and consistent track record of efficient closings.
“Sunswept Townhomes is an excellent addition to our portfolio,” stated Hirschfeld. “We are excited to continue growing OREI’s presence in the Houston MSA, as this submarket has displayed significant economic and population growth.
”About One Real Estate Investment
Founded in 2001, One Real Estate Investment (“OREI”) is a privately owned, Miami-based real estate investment and asset management company. OREI is a disciplined investor, manager, and operator focused on acquiring multifamily assets in the Southeast United States and Texas. The firm’s expertise is in executing and managing a strategic asset repositioning, amenity upgrade, and operational optimization programs to maximize value for its tenants, investors, and communities in which it invests. The firm’s deals are capitalized by proprietary funds and programmatic relationships with institutional, family office, and ultra-high-net-worth capital partners.
OREI has over 3,000 units under management nationally and has acquired and sold over 8,000 value-add multifamily units since its inception.