Berkadia Arranges Sale of New Class A Apartment Community in Houston
Town Center Lofts, located next to the Brazos Town Center, sold in an off-market transaction to Redwood Capital Group/Heitman
HOUSTON (January 4, 2022) – Berkadia announces it has arranged the sale of Town Center Lofts, a new 309-unit multifamily housing community in the Rosenberg submarket of Houston.
Managing Director Jeffrey Skipworth, Senior Managing Directors Todd Marix and Chris Curry, along with Managing Directors Joey Rippel and Chris Young and Director Kyle Whitney of Berkadia Houston Investment Sales negotiated the off-market transaction between the seller, Sueba USA, and buyer, a joint venture between Redwood Capital Group and Heitman LLC (Heitman), a global real estate investment management firm.
“Rosenberg is one of the strongest performing multifamily submarkets in Houston,” said Skipworth. “Redwood/Heitman’s acquisition of Town Center Lofts allows the new owners to control the ‘best in class’ apartment community in the Rosenberg area.”
Located at 7204 Town Center Boulevard, Town Center Lofts was developed by Sueba USA and completed in 2021. The property offers studio, one- and two-bedroom, loft-style floor plans ranging from 560 square feet to 1,207 square feet. Apartment units feature island kitchens and granite countertops, upgraded appliances, 9- to 12-foot ceilings, oversized windows, walk-in closets, garden tubs, walk-in showers, front-loading washers and dryers, and wood-style flooring. Amenities include a leisure and lap pool, a 2,500-square-foot, 24-hour athletic center and separate workout studio for classes, community club room with chef-inspired kitchen, iMac Net Café, parcel lockers, and detached garages.
The property is located next to Brazos Town Center, offering convenient access to more than 100 shopping, dining and service outlets, and less than 45 minutes from Downtown Houston.
Since its entry into the Houston market in 1984, Sueba USA has developed over 10+ million square feet of high-performing, signature multifamily projects. Today, the firm is an established leader in residential and commercial real estate, with expertise in all phases of project delivery and operations.