144 unit apartment complex in Houston, Texas
Colliers is pleased to announce the sale of Woodstone Manor Apartment Homes located at 10250 Lands End in Houston, Texas.
Bob Heard, Chip Nash and J. Todd Stewart of Colliers represented the seller in the transaction. The buyer was Gibby's Capital Investments.
“The seller along with their property management company, Mosaic Residential, are professionals through and through and it was truly a pleasure representing them,” said Bob Heard, Senior Vice President of Colliers. “The closing of Woodstone Manor couldn’t have gone smoother and that is thanks to Gibby’s Capital Investments and their performance on this transaction. It’s rare to find a team that follows through on everything they say they are going to do; you really can’t ask for more than that.”
Woodstone Manor is a 95,000 square foot upscale apartment community, offering 144 units situated outside of Beltway 8, north of Interstate 69, allowing for convenient access to all Houston thoroughfares. The apartment complex is 98% occupied and features thirteen buildings with private patios, 24-hour emergency maintenance, a swimming pool, and securely gated.
The property is located in Houston's Alief multifamily submarket. The submarket contains 15,375 units within 65 projects. The occupancy rate for the Alief submarket is currently 93%. The average asking rate in the submarket is $913 per unit.