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Three Pillars Buys 426-Unit Houston Multifamily Community
Three Pillars Capital Group has acquired Chateaux Dijon, a 426-unit multifamily community in Houston’s Galleria area. InvestRes was the seller, which picked up the property in 2018. The deal involved a $34 million loan provided by City Bank, Yardi Matrix data shows.
Built in 1961, the community comprises 17 two-story buildings with one-, two-, three- and four-unit floorplans, ranging from 510 to 2,200 square feet. Multi-Housing News reports the new ownership plans to implement extensive renovations.
Located at 5331 Beverly Hill St., the 9-acre site is close to interstates 69 and 610, being situated roughly 10 miles west of downtown Houston. Galleria shopping mall, as well as numerous other retail and dining options, are within walking distance of the property.
- ◦Sale/Acquisition
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