PCCP And Alliance Residential Acquire 387-Unit Heights On Katy In Houston For $50.2M

The 387-unit multifamily community, Heights on Katy, is located at 7105 Old Katy Road in Houston, covering an area of 10 acres. The property features both one- and two-bedroom units, alongside amenities that include two pools and 800 parking spaces. This transaction marks a significant addition to the Houston multifamily market.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $50.2 million
• Buyer's Representative: V. Jay Hiemenz - Alliance Residential
• Seller's Representative: Feras Moussa - Disrupt Equity
• Lender: Walton Street Capital
• Year Built: 2004

PCCP, in collaboration with Alliance Residential, executed the acquisition of the property from Disrupt Equity. Walton Street Capital facilitated the transaction with the origination of a $50.2 million acquisition loan, highlighting the active investment landscape in Houston's multifamily sector.