Eastham Capital Sells 194-Unit University Green Apartments In Houston

The property involved in this transaction is the University Green Apartments, a multifamily asset located at 1620 Bay Area Boulevard in Houston. This property comprises 194 units and has undergone renovations and operational upgrades since its acquisition in 2018, leading to increased occupancy and rental rates. The asset was strategically repositioned to improve its market performance before the sale.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: Undisclosed
• Units: 194
• Address: 1620 Bay Area Boulevard
• Market: Houston
• Seller: Matt Rosenthal & Eric Silverman - Eastham Capital

This transaction was facilitated by Eastham Capital, who executed a successful exit strategy for the property, achieving significant rent growth from $739 to $1,040 and reaching an occupancy level of 97%. The firm originally acquired the asset through a joint venture with Mosaic Residential.