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Lionstone Acquires River Oaks Rental Asset
Lionstone Investments has acquired The James, an eight-story, 344-unit apartment building at 2303 Mid Lane in the River Oaks neighborhood.
Developed by StreetLights Residential in partnership with Stonelake Capital Partners, The Houston Chronicle reported The James opened in 2016 and cost $100 million to build as part of a mixed-use development.
Amenities include a private, full-service bar for residents and electric vehicle charging stations. The James apartments range anywhere from 504 to 1,867 square feet at a monthly cost of $1,325 to $3,890.
The property is 94 percent occupied.
According to the data from the Houston Association of Realtors, leased listings in the Houston area increased by 6.7 percent in May compared to the previous year. Average rent prices also climbed by 3.8 percent to $2,345.
- ◦Sale/Acquisition
