JV Acquires Gables West Ave MXU, Plans Upgrades

FPA Multifamily joined forces with Trinity Property Consultants to acquire a mixed-use component consisting of Gables West Ave and West Ave shopping center in Houston. The partnership is planning a renovation and rebrand of the project, dubbing the retail component Shops at Arrive, and the apartment complex Arrive River Oaks.

The seven-story development at 2800 Kirby Dr. has more than 175,000 square feet of retail on the lower levels, and 397 residential units on the upper levels. Gables Residential developed and opened the property in 2010. The previous owner is listed as Austin Trust Co. in Austin, with a property assessment of $129 million.

Upgrades will include an improved dog park, expanded fitness center and enhancements to the pool area. Also on tap are exterior paint and improvements to the garage and parking areas. The renovations are set for completion in 2019.

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