Berkadia Arranges Sale of Class A Multifamily High-Rise in Central Houston, Texas
HOUSTON (September 9, 2022) – Berkadia Institutional Solutions announces it has arranged the sale of Chelsea Museum District, a 325-unit trophy-quality multifamily high-rise in Central Houston, Texas. Senior Managing Directors Chris Curry and Todd Marix, Managing Directors Jeff Skipworth, Chris Young and Joey Rippel and Director Kyle Whitney of Berkadia Houston investment sales marketed the property on behalf of the seller, Alliance Residential Company, a residential real estate developer based in Scottsdale, Arizona.
Chris Pollard and Jason Rice of Berkadia Dallas mortgage banking secured the debt on behalf of the buyer, Madera Residential, an investment company based in Lubbock, Texas.
“Chelsea Museum District’s location and its construction quality have made it one of the more successful high-rises in Houston’s history. Drafting off the Texas Medical Center growth and Houston’s Innovation Corridor, Chelsea is in a great position to thrive well into the future,” Said Curry.
Built in 2021 and located at 4641 Montrose Boulevard, Chelsea Museum District offers one- and two-bedroom apartments averaging from 412 to 1,632 square feet. Individual units feature 10-foot ceilings, light wood plank flooring, quartz countertops, blackout shades, temperature-controlled wine chillers, washer and dryers with smart technology and private oversized balconies or private yards. The community amenities include a pool with tanning ledge and private cabanas, an outdoor kitchen with two gas grills, exercise center, a yoga and spin room, a co-working lounge with private conference room, a speakeasy, wine lounge with city views, golf simulation room, electronic package lockers, pet spa and bark park.
Located between Downtown Houston and the Texas Medical Center, Chelsea Museum District is close to more than 200,000 jobs. Residents are within walking distance to Houston’s Museum District, the Innovation Corridor, Hermann Park and Bell Park, and a short drive away from Greenway Plaza, Galleria/Uptown, Rice University, the University of Houston, Rice Village and the River Oaks District.
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Acquisition of the Week: Chelsea Museum District in Lubbock, Texas | The Crittenden Report