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Ravinia multifamily community sells in Spring Texas

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Nine senior-level multifamily brokers from Colliers in Arizona, Houston and Atlanta collaborated to select the highest caliber buyer

Ravinia, a multifamily community in Spring, TX, near Houston, sold to Dallas-based investor ExCap. The property, located at 2400 Spring Rain Drive, offers the buyer opportunities to modernize the asset and escalate its value.

“Ravinia was a full team approach from all aspects,” says Brad Cooke with the Cooke Multifamily Team at Colliers in Arizona. “The nine senior-level multifamily brokers from Colliers in Phoenix, Houston and Atlanta collaborated to ensure the quality of the buyer pool allowed the seller to select a buyer that was of the highest caliber. Expedition Capital Advisors team has a stellar reputation and it was proven by the way they navigated the acquisition. The Hamilton Zanze team’s pride of ownership showed in the way the property was maintained and operated, giving ExCap the perfect canvas to execute their value-add strategy.”

ECP II Acquisitions (Expedition Capital Advisors) of Dallas purchased the property from SEF Ravinia LLC and HZ Ravinia, LLC (Hamilton Zanze & Company) of San Francisco. Brad Cooke, Chris Roach, Cindy Cooke and Matt Raoch of Colliers in Arizona worked with Teresa Lowery, Bob Heard, Todd Stewart and Chip Nash of Colliers in Houston and Ron Cameron of Colliers in Atlanta to handle the transaction.

Built in 2000, Ravinia was 95 percent leased at the time of the sale. The property features 232 apartment units in 13 buildings, offering spacious units with a garden-style layout. The 14.1-acre property offers desirable amenities such as a resort-style pool, parcel package locker, outdoor TV lounge, valet trash business/fitness centers, clubhouse and poolside cabana with wet bar.

Located near the Interstate 45 and Grand Parkway, Ravinia offers residents a short commute to multiple Fortune 500 headquarters, an abundance of upscale shopping, dining, parks and entertainment.
 
About Colliers
Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 65 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to real estate occupiers, owners and investors. For more than 25 years, our experienced leadership with significant insider ownership has delivered compound annual investment returns of almost 20% for shareholders. With annualized revenues to $3.6 billion ($4.0 billion including affiliates) and $46 billion of assets under management, we maximize the potential of property and accelerate the success of our clients and our people. Learn more at corporate.colliers.com, Twitter @Colliers or LinkedIn.
 
Colliers in Arizona has served clients locally and globally for more than 40 years.
 

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With over 38 years of experience, Cindy’s multifamily expertise includes large portfolio sales, conventional and affordable assets, new development, construction, property assemblage, and debt/equity placements.

Her ability to maximize value, minimize risk and accelerate velocity for clients is the driving force behind all of Cindy’s decisions. She leverages her in-depth experience and long-term industry relationships to benefit the team’s institutional and large private capital clients and provides the market insights clients need to make strategic investment decisions.

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The Cooke Multifamily Team serves and supports its clients with integrity, respect and kindness and is the advisor of choice for many of the world’s most innovative and successful companies. Our team consistently meets and exceeds client expectations and ensures each transaction is completed as smoothly as possible, with no detail unnoticed.

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