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Colliers negotiates the sale of an upscale multifamily asset in West Houston’s Energy Corridor

190+ Unit, Class A apartment complex sold near sought after Houston neighborhood

 

On behalf of KC Venture Group (KCVG), Colliers in Houston has negotiated the sale of Ashford Lakes, a 190,732 square foot Class A, value-add multifamily investment asset located at 1200 S Dairy Ashford in Houston, TX. The property is situated next to the Memorial neighborhoods and in the heart of West Houston’s Energy Corridor, just minutes from both CityCentre and Memorial City Mall.

“I have had the pleasure of working closely with Peter Engelman and KCVG throughout my career. Every transaction offers a new opportunity for our team to bring competitive offers from the market all while keeping the integrity of the process intact,” says J. Todd Stewart, Senior Vice President of Collier. “It takes a collaborative effort from all involved to get a multifamily deal across the finish line and Peter and his team make the process thoroughly enjoyable.”

This asset represented a rare occasion to acquire a Class A project with value add opportunities in a very desirable Memorial location. The property was originally built by Jenard Gross, one of Houston’s long-term prestigious builders. When KC Venture Group rebuilt the property after the floods of Hurricane Harvey it included a new expanded clubhouse/exercise facility, pool deck, all new exterior siding, windows, HVAC’s, cabinetry, flooring, lighting and fixtures.

J. Todd Stewart, Chip Nash and Bob Heard represented the seller, KCVG, in the sale transaction. KC Venture Group is a Kansas City-based real estate investment firm that focuses on multifamily acquisition, redevelopment and management. Since its inception, KCVG has purchased over 15,900 units valued at $1.1 Billion. The buyer was an Alabama-based commercial real estate firm that has handled investments, acquisitions, financing, sales, advisory and asset management since 1993 totaling 8,500+ units with a value in excess of $1 billion in market value.

Main Image _ Ashford Lakes


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Todd Stewart

Senior Vice President

Houston

Mr. Stewart joined Colliers in September 2020 and is a Senior Vice President and Director of Multifamily Investment Properties. Mr. Stewart has 30 years of experience with investment properties. During the course of his career, Mr. Stewart and his partners have negotiated sales in the amount of approximately $12 billion in more than 500 transactions totaling 150,000 units throughout the United States. He has been ranked one of the top multi-housing specialists in Houston for the past 20 years and has worked with a variety of clients including individuals, private syndicators, pension funds, REITs, S&L’s, insurance companies and banks.

Prior to joining Colliers, Mr. Stewart was a Managing Director at JLL, a Senior Managing Director with HFF (Holliday Fenoglio Fowler, L.P.) and an Executive Vice President of the CBRE Houston Multi-Housing Properties Group. As a member of CBRE’s Major Accounts Group, Mr. Stewart was a top ranking regional and national multi-housing salesperson. He has been ranked as a Houston Business Journal Heavy Hitter and has received the Directors Award. 

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Chip Nash

Senior Managing Director, Multifamily Investment Properties

Houston

Chip Nash joined Colliers Houston in September 2020 and is Senior Vice President and a Director of Multifamily Invest Properties.

Before joining Colliers, Nash was a Managing Director for JLL focusing exclusively on private capital investment sales of multifamily properties for eight years. Previous to JLL, Nash held similar positions at Berkadia, Hendricks and Partners, and Pinnacle International Realty Group. He has negotiated hundreds of transactions encompassing a 25+ year track record in investment sales along with a previous seven years spent in the commercial banking business for a conglomerate of banks owned by Pulte Home Corporation.

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Bob Heard

Senior Managing Director, Multifamily Investment Properties

Houston

Bob is a Senior Vice President within Colliers’ Houston office and a director of Multifamily Investment Properties. Bob brings 15 years of real estate experience specializing in capital markets and multifamily investment sales. Over the course his career, Bob has been involved in all aspects of income-producing properties including the management, syndication, rehabilitation, purchase and sale of multifamily developments. Prior to joining Colliers, Bob was a Vice President within JLL Houston’s Capital Markets Multi-Family Investment Group. Prior to JLL, Bob was a Senior Associate with the multi-family investment sales group at Berkadia. Bob is a Licensed Real Estate Broker with a Series 7 License.

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