With Houston's swelling population and rising demand for multifamily product citywide, an influx of capital investment has poured into the Westchase area multifamily sector. CBRE's multifamily team has closed on six apartment properties in and around the district within the last three months.
The PPA Group purchased Olympia Flats and Westside Flats 2201. Before that, The Valcap Group LLC, TRI Consulting Group and Next Investment purchased three assets, Westchase Estates, Westchase Grand and Westchase Preserve. TPEG bought Madison Park Apartments.
“You can really see the enthusiasm from investors for the Westchase District," said CBRE Senior Vice President Matt Phillips, who arranged the deals along with Clint Duncan. "They continue to be attracted to the large employment base and mobility in the west Houston area, plus there is still affordable workforce housing.” Read more at www.bisnow.com