Eaton Vance Acquires 360-Unit Katy Rental Community

Eaton Vance Real Estate Investment Group has acquired Elite 99 West, a 360-unit multifamily property in Katy, Texas. Electra America was the seller.

Commercial Search reports that the buyer took out a $40 million Fannie Mae loan originated by Walker & Dunlop. The property previously traded in September 2019, when Electra America acquired the asset from Greystar.

The 2016-completed community at 23400 Kingsland Blvd. is close to a number of dining and retail options, including the Park Plaza Centre shopping mall.

Elite 99 West encompasses 15 three-story residential buildings across more than 18 acres. Units have one-, two- and three-bedroom floorplans varying from 673 to 1,452 square feet. Apartments have private balconies or patios.

Shared amenities include an infinity pool with lounge seating and tanning shelf, outdoor kitchen with lounges, gaming center, coffee bar, fitness center and a clubhouse. The community also has jogging paths and more than 490 parking spaces.