Sunsail Capital Acquires 350-Unit MultiFamily Asset In Humble For $77.8M

The 350-unit multifamily community known as Sarah at Lake Houston in Humble has been acquired by Sunsail Capital and ZaneCRE for $77.8 million. The property, situated on 17.3 acres less than a mile from Lake Houston, consists of three stories and 11 buildings. It offers a variety of living spaces including standard one, two, and three-bedroom units, as well as two-bedroom townhouses with private patios and balconies.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $77,800,000.00
• Address: 17571 W Lake Houston Pkwy, Humble
• Market: Humble
• Seller's Rep: Zachary Springer(Newmark)
• Buyer: Sunsail Capital
• Seller: GenCap Partners

Newmark’s Zack Springer played a key role as the broker in facilitating this transaction, while Newmark's Purvesh Gosalia was responsible for structuring the financing. In a joint statement, Sunsail Capital and ZaneCRE expressed optimism in the Texas market, emphasizing the state's growth driven by job opportunities, population expansion, and a mix of economic and quality of life benefits for the residents in the area.