Accel Equity Group Acquires 324-Unit Multifamily Property From Raphael Toledano For $31.5M

A multifamily garden-style community, known as Holly View Apartments, was sold for $31.5 million, located at 5555 Holly View Drive in northwest Houston. The property comprises 324 units, resulting in a per unit price of approximately $97,222.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $31,500,000
• Units: 324
• Price Per Unit: $97,222
• Buyer: Accel Equity Group
• Seller: Raphael Toledano - Sorrento Property Group
• Broker: Matt Wideman - Newmark

This transaction reflects Sorrento Property Group's strategic shift toward larger multifamily properties, as represented by broker Matt Wideman from Newmark, aiding in the expansion of their investment pipeline in Texas and Florida.