Austin Investors Acquire Multifamily Property in Alief
The Huntington Glen apartments in the Alief area of Houston have been acquired by an Austin firm.
HOUSTON – GVA Real Estate Group of Austin has purchased Huntington Glen, a 364-unit apartment community located in the Alief neighborhood of southwest Houston.
HFF served as the marketing agent for the seller, BH Equities/L5 Investments.
Huntington Glen sits at 12023 Bissonnet near the intersection with S. Kirkwood Drive in the Alief submarket. Built in 1983, the gated community features a range of one-, two- and three-bedroom homes, with unit sizes from approximately 450 to 1,179 square feet.
The HFF investment advisory team representing the seller included Director Joey Rippel, Chris Young and Analyst Connor Phillips.
This acquisition marks GVA Real Estate Group’s first purchase in the Houston market. GVA focuses on value-add multifamily investments and plans to pursue renovations and upgrades at the property.
“The opportunity to purchase true value-add, workforce housing product continues to attract new buyers to Houston,” said Joey Rippel. “There are few properties like Huntington Glen left in the market today — those that haven’t seen any renovations.”
HFF’s debt placement team representing the buyer included Managing Director Robert Wooten and Analyst Jackson Finch. The buyer obtained a three-year floating-rate acquisition loan with two one-year extension options through one or more funds managed by Marathon Asset Management, LP.
