Transwestern Sells 164-Unit Texas Community
- Oct 02, 2017
Transwestern’s Houston Multifamily Investment Services Group arranged the sale of Pindo Pointe, a 164-unit multifamily property in Beaumont, Texas. Winslow Asset Management was the buyer and Parkdale Pindo the seller.
Located at 7390 Pindo Circle, the community features upgraded one-, two- and three-bedroom units, ranging from 632 to 1,072 square feet. Amenities include a swimming pool, laundry rooms, covered parking, picnic areas, community courtyards and 24-hour emergency maintenance.
“The property fortunately did not sustain any damage from Hurricane Harvey and is positioned to perform well over the near and long term,” said Ed Cummins, managing director at Transwestern, in prepared remarks. “This asset was fully renovated, stabilized and purchased for cash flow by a first-time buyer.”
Cummins and Vice President Ryan Mendez represented the seller, while Executive Managing Directors Jan Sparks and Michael Snodgrass arranged the financing.
Image courtesy of Transwestern