River Oaks-Area Apartment Community Trades With Fannie Mae Loan

Capital Square purchased the 304-unit Flats at West Alabama, a mid-rise apartment community located in upscale River Oaks, with the help of a Fannie Mae loan. Walker Dunlop represent both the buyer and seller in the transaction as well as structuring the financing deal. Wood Partners was the seller.

Walker & Dunlop’s Ryan Epstein says the area is on a roll, “The submarket surrounding the Flats at West Alabama has seen incredible growth, with Apartment Data Services reporting 15.5% rent growth in the last three months and 19.4% rent growth over the last 12 months.”

The Flats at Alabama have a few unique amenities, such as co-working concept spaces, a club area and a sky lounge.