After 25 Years, Houston-Area Apartment Investors Agree to Sell

A Houston-area limited partnership has agreed to sell a 152-unit apartment comple in Kingwood, after holding it for 25 years. Kingwood Houston Oaks Limited Partnership has sold Oaks of Kingwood. Located at 3415 Havenbrook Drive in Kingwood, Oaks of Kingwood features studio units to one-, two-, three- and four-bedroom floorplans which measure an average size of 876 square feet. The community as a whole offers a total net rentable area of 133,013 square feet. The property’s is 99 percent occupied.

The two-story multifamily community was constructed in multiple phases. Completion of the first phase came in 1984, the second in 1999.

The transaction was managed by Colliers’ experts Chip Nash, Bob Heard and Jaleel Adatia who represented the seller.

Kingwood is one of a number of communities located in the Lake Houston region of Northeast Houston. Others include Atascocita, Humble and Summerwood.