Westmount Sees West End on Eldridge’s Growth Potential

West End on Eldridge, a 192-unit apartment community located in Houston’s Energy Corridor submarket, recently sold for an undisclosed purchase price. Dallas-based Westmount Realty Capital acquired the property.

Chris Curry, Todd Marix, Joey Rippel, Chris Young, Jeffrey Skipworth and Kyle Whitney of Berkadia Houston represented the seller, Melville, NY-based Duck Pond Realty Management.

“The buyer acquired West End on Eldridge at a very attractive basis relative to replacement cost,” said Curry. “Houston is one of the few markets where this is still possible today.”

West End on Eldridge was built in 1998 and renovated in 2009. Located at 2255 Eldridge Pkwy., the property is 40 minutes from both downtown Houston and George Bush Intercontinental Airport, with access to I-10 and the Westpark Tollway.

“The property benefited from a robust Houston spring and summer leasing season, and demonstrated impressive growth on lease trade-outs throughout the disposition,” adds Marix. “In a rapidly rebounding Energy Corridor submarket with limited new supply going forward, West End has considerable value-add potential and is positioned for growth.”