Investors Spring in Houston’s Spring Branch
- Sep 01, 2015
By Liviu Oltean, Associate Editor
Activity continues to soar in Space City, as the multifamily investment services group of Transwestern announced that it has closed the sale of a 117-unit residential portfolio located within the Spring Branch submarket.
The portfolio included a 79-unit, garden-style community called Spring Gardens and a 38-unit community dubbed Johanna Square. While terms of the deal were undisclosed, Yardi Matrix property records show that the larger community was acquired by Jose Berlanga for $5 million. Managing Director Ed Cummins and Senior Associate Ryan Mendez, both with Transwestern, represented the seller, OSD Ltd.
“Demand for well-located assets in the Spring Branch submarket remains high,” Mendez said in a prepared statement. “Our team has completed three sales within the area in the last six months, and we anticipate continued activity over the near term.”
Image courtesy of Transwestern