Texas CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors

Topics

Texas  + Houston-Galveston  + Apartments  | 
1980 Vintage Houston Apartment Pebble Creek Sells

80’s Era Apartment Sold in Houston

Pebble Creek Apartments, a 136-unit garden-style multifamily community was purchased by a private California-based buyer. Built in 1980 on 6.5 acres, Pebble Creek was 97% occupied. The average floor plan offered 865 feet of space.

The Multifamily Group’s Chris Siemasko liked the upside of the transaction, “We knew we had a special opportunity because the property was a B-Class asset with a value-add component that was too good to pass up. The proven rent bumps amounted to $200 a unit.”

The buyer made the purchase as part of a 1031 exchange.

Connect

Inside The Story

Chris Siemasko

About Mike Boyd

  • ◦Sale/Acquisition
AshcroftCapital-04-cube
Chase-12-cube