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Colliers finalizes apartment sale of Fountains of Rosenberg

Colliers has announced the sale of Fountains of Rosenberg at 3419 Fountains Drive in Rosenberg, TX. The buyer was Momentum Multifamily. The seller, Mosaic Fountains LP., was represented by Chip Nash , Bob Heard and Jaleel Adatia of Colliers.
 
The property is a premiere community with 184 units and 167,608 square feet. The community features a resort-style pool with a luxurious sundeck, state of the art fitness center and has had recent renovations. Designer two-tone paint, stainless steel appliances and stately two-inch blinds with light fixture upgrades make this an ideal investment property for long-term profit. 
 
“It's always exciting to close a deal, but when the transaction is totally seamless along the way, now that’s a real win for everyone!” Said Chip Nash, Senior Vice President of Colliers Houston. “Both the Lender and Buyer along with Mosaic as the seller made the deal process enjoyable, and we are fortunate to have worked with them on this excellent and highly attractive Rosenberg asset. It takes a dedicated team to get a deal completed in the current market we are in, so congratulations to all involved.”

 

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Fountains at Rosenberg is conveniently located adjacent to Seabourne Nature Park and just south of Highway 59. It is located near multiple shopping centers, restaurants and entertainment venues. 
 
The property is located in Houston's Richmond/Rosenberg apartment submarket. The submarket, which is currently 89% occupied, contains 7,443 units in 53 projects. The average monthly rental rate is $1,296 per unit.

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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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Jaleel Adatia

Senior Associate

Houston

Jaleel is a Senior Associate at Colliers in Houston and specializes in Multifamily Investment Sales. He works with an exclusive list of clients to execute apartment sales across Greater Houston, creating portfolio expansions and value-add investment opportunities for innovative and senior buyers. 

Previously with Institutional Property Advisors (IPA), Jaleel achieved a gross sales volume of more than $500MM to date through the sale of more than 3000 units in the Houston MSA and interacted with clients and leaders in the industry to help develop property plans, overcome challenges, and exceed asset goals. 

Before entering the real estate world, Jaleel completed his master’s degree at Georgetown University in Sports Industry Management and earned a Bachelor of Arts in Business Administration from Furman University. After obtaining his education Jaleel played golf at a professional level and applies multiple skills learned out on the course into his business practices. 

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