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Colliers negotiates sale of boutique luxury apartment community in the heart of Montrose

A 50 unit, 4-story, boutique midrise sold in Houston, TX

 

Colliers Houston has negotiated the sale of Avondale Highline, a 50 unit luxury multifamily community in the Montrose neighborhood located at 214 Avondale Street in Houston, Texas.

 

Avondale Highline is situated off of Westheimer Road in the main district of Houston’s lively and diverse Montrose neighborhood. Completed in 2020, the brand new apartments offer unequaled lifestyle amenities and a true sense of place for residents; exemplifying the new trend of boutique living in Texas. The neighborhood has unparalleled walkability with the best shopping, restaurants and entertainment in town only steps away. The community is made up of studio and one-bedroom apartments surrounded by parks, museums and an energetic Montrose nightlife.

“This property presented investors with a near perfect combination of quality of asset and location.” says Jim Humphries of Colliers. “It really does fill an under-served niche for this type of Class A product in this submarket and that was reflected in the caliber of offers received.”

 

Jim HumphriesJ. Todd StewartChip Nash and Bob Heard of Colliers represented the seller, UG Avondale II LLC in the sale transaction. The buyer was a California-based invesment group making their first Houston purchase.

Avondale



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Jim Humphries

Associate

Houston

Jim Humphries is an Associate at Colliers in Houston since 2015 and part of Colliers Investment Services Group (CISG). He specializes in multifamily assets with an emphasis on properties within Texas and the Southern United States.

Colliers Houston’s ISG team takes a consultative approach to commercial real estate which includes developing and executing strategies that are both consistent with its clients’ objectives as well as feasible in the current market environment.

Jim has 10 years of multifamily real estate experience. Before joining Colliers, Jim was an  analyst with the HFF Houston Multifamily group where he was directly involved in more than $6 billion in transactions. In that role, his responsibilities included underwriting and market analysis for both existing and to-be-built acquisitions and dispositions.

Jim’s primarily focus is on multifamily investment services and capital markets. His responsibilities include multifamily investment sales, business development, financial and debt analysis, market research, due diligence and offering memorandum production.

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Todd Stewart

Senior Vice President | Houston

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 Vice President

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 Vice President

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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