Virtuo Med Center Apts LLC Acquires 326-Unit Multifamily Development In Houston's Medical Center Area

Houston's Virtuo Med Center Apartments, a 326-unit multifamily development located at 7110 Ardmore Street in the sought-after Medical Center area, has recently been sold. The off-market transaction involved a private investor from the Northeast. The property boasts a prime location near NRG Center and the TMC life sciences campus, making it highly attractive for potential buyers. With a total square footage of 257,963 and sitting on 6.39 acres of land, this multifamily asset offers significant potential for rental income and long-term returns.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: N/A
• Units: 326
• Square Footage: 257,963
• Acres: 6.39
• Address: 7110 Ardmore Street, Houston

The buyer in this deal is Virtuo Med Center Apts LLC, while TMC Grand Apts LLC is the seller. Representing the buyer is Tom Wilkinson from KET Enterprises, while Glenn Dickerson and Brad LyBrand from NewQuest Properties are the seller's representatives. NewQuest Properties played a pivotal role in facilitating the transaction, representing the seller throughout the negotiation process.