HOUSTON — REEP Equity and Hashem Holdings have acquired Candleridge Park Apartments, a 128-unit multifamily property located in Houston. The deal highlights continued investor interest in the city’s rental market, where demand remains elevated amid job growth and population gains.
“Houston is one of the hottest markets in the U.S. for multifamily investors,” said CW Sheehan, senior vice president at JLL. “A thriving energy sector, notable employment increases and rising population have kept rental demand strong. Those factors are driving higher effective rents and lower vacancies, creating attractive returns for investors. Candleridge Park’s central location and close access to employers make it a compelling opportunity for the new owners.”
JLL brokers Mark Brandenburg and CW Sheehan arranged financing for the acquisition through Fannie Mae. The recently renovated property sits at 1601 Wooded Pine Drive and offers a range of resident amenities, including a swimming pool, outdoor kitchen, business center, playground and dog park.
JLL Capital Markets, which facilitated the financing, is a global provider of capital solutions for real estate investors and occupiers.