Dallas investor acquires luxury multifamily communities
On behalf of Sueba USA and it’s affiliated companies, Colliers has negotiated the sale of a three-property luxury multifamily portfolio in the Houston metropolitan area.
“The Sueba 3 Portfolio represented a rare opportunity for an investor to acquire three high-end, Class A+ multifamily communities in the dynamic Houston market,” says J. Todd Stewart, Senior Vice President with Colliers in Houston. “These assets reflect the high caliber development standards that Sueba is known for. As one of the premier developers in the Greater Houston area, Sueba is recognized for creating outstanding residential and commercial properties in key submarkets.”
J. Todd Stewart, Teresa Lowery, Chip Nash, Bob Heard, Cindy Cooke, Brad Cooke, Matt Roach and Ron Cameron of Colliers represented the seller, Sueba, in the sale transaction. The buyer was Dallas-based RREAF Holdings, a privately held commercial real estate firm that acquires, develops, manages, owns, repositions and finances real estate projects throughout the United States.
Bob Heard, Senior Vice President with Colliers in Houston has worked with Graham Sowden, RREAF Holdings Director of Acquisitions over a four-year period closing seven deals, encompassing 12 individual properties.
“I enjoy working with Graham because he is hyper focused on building a strong portfolio and knows the depth it takes to get a deal across the finish line,” says Bob Heard.
Kip Sowden, CEO of Dallas based RREAF Holdings added "This is part of a 21 multifamily portfolio acquisition that RREAF Holdings has been working on for several months, and is one of the largest transactions in the country since the outbreak of the COVID pandemic."
Since its entry into the Houston market in 1984, Sueba USA has developed over ten thousand apartment units in high-performing, signature multifamily projects. Today, the firm is an established leader in residential and commercial real estate, with expertise in all phases of project delivery and operations. Each of the three Sueba-developed communities acquired by RREAF Holdings offer a low-density residential experience in a beautiful setting with park like common areas and mature, well-appointed landscaping. Units offer modern elements with condominium-quality interior finishes, large floor plans and amenity offerings of a luxury lifestyle. The three communities are situated minutes from major employment centers, abundant shopping, dining, entertainment and world-class healthcare.