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Texas  + Houston-Galveston  + Apartments  |  May 11, 2022
BRT Katy Cinco Ranch
Mike Boyd
By: Mike Boyd

BRT Sells Retreat at Cinco Ranch in Katy

Publicly traded BRT Apartments Corp told investors in their last quarterly call that they sold the Retreats at Cinco Ranch for $68 million. The 268-unit project had a debt of $30 million and the company said it realized a gain of $16.4 million. The buyer was not disclosed.

The community at 3306 South Fry Road offers one, two and three bedroom units averaging between $1,225 and $1,865 in monthly rent. The buyer paid $253,000 per unit.

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About Mike Boyd

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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