MC Cos Acquires MultiFamily Property In Houston From Matthew Phillips Of Bussel Realty

The property involved in the transaction includes Enclave at Cypress Park and Paramount, which are two adjacent apartment communities located at 1822 Barker Cypress Rd, Houston, TX, in the Houston market. These multi-family assets consist of a total of 648 units, with Enclave at Cypress Park comprising 384 units and Paramount Apartments totaling 264 units. The properties offer various unit types including one-, two-, and three-bedroom apartments along with amenities like pools, fitness centers, spas, and resident clubhouses.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: Not disclosed
• Address: 1822 Barker Cypress Rd, Houston, TX
• Seller's Representative: Matthew Phillips-Bussel Realty
• Buyer: MC Cos
• Total Units: 648
• Units in Enclave at Cypress Park: 384
• Units in Paramount Apartments: 264
• Broker Representatives: Clint Duncan and Matt Phillips of CBRE
• Acquisition Financing: Arranged by Michael Thompson of CBRE through MF1 Capital
• Planned Rebranding: The Place at Barker Cypress

MC Cos, based in Arizona, is the buyer in this transaction and intends to implement a value-add program to enhance unit interiors and amenity spaces. The deal was facilitated by the representation of undisclosed sellers, with the brokerage team also handling the financing arrangements to support the acquisition process.