659-Unit Multifamily Community Changes Hands in Houston
The massive development, Urban Palms, was sold by a Southern California fund management group. Northmarq represented both sides of the deal as well as arranging the debt financing and joint venture equity.
Northmarq’s Justin Chambers describes how the transaction came together, “Northmarq’s internal collaboration between office and teams gave a repeat buyer an opportunity to enter a new market with scale and allowed for a smooth transaction with a seller I had never worked with before.”
The project was built in 1979 and renovated in 2017. Located in the Chinatown neighborhood of West Houston, residents have numerous restaurants, shops and markets within short walking distance. Town Park Plaza and Landmark Center are less than a half mile away. A number of parks are nearby, as well.
Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.
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