JV Claims Ownership of 128-Unit Candleridge Park Apartments

REEP Equity and Hashem Holdings joined forces to acquire Candleridge Park Apartments, a 128-unit multifamily property on Houston’s far north side. The partners bought the asset at 1601 Wooded Pine Dr. from HM Equity Management LLC. JLL arranged for acquisition financing through Fannie Mae.

The 1980s apartment was recently renovated, with amenities including a swimming pool, outdoor kitchen, business center, playground and dog park. The property has one- and two-bedroom units.

“Houston is one of the hottest markets in the US for multifamily investors,” said JLL’s CW Sheehan, who teamed with colleague Mark Brandeburg to secure the loan. “The rental market remains strong thanks to a thriving energy sector, significant job gains, and population increases. Candleridge Park’s central location and accessibility to employers provides a fantastic investment opportunity for the new owners.”

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