Sold portfolio includes 60 single family rental homes
Colliers is pleased to announce the sale of a single family rental home portfolio located in the greater Houston MSA. The buyer was Dallas based Bridge Tower Properties and the seller was Houston based iProperty Investments. Jim Humphries of Colliers brokered the transaction on behalf of the seller.
"This portfolio was a great representation of the broader changes in SFR market and garnered some significant interest from quite a few large-scale investors," said Jim Humphries of Colliers. “This slightly newer vintage portfolio was in excellent condition and complimented the buyer’s existing portfolio in the Houston market. It was a true win-win, with the Seller completing an exit en masse and a Buyer with the opportunity to quickly add assets that complimented their current stock."
The investment portfolio consisted of 60 single family rentals homes with 61 units with full occupancy throughout the marketing process. All the homes are located in desirable suburban locations around Houston and have a median year built of 2005. The portfolio of homes feature a variety of sizes with more then half being three bedrooms and were leased on a yearly basis at market rates.