HOUSTON — Jeronimo Hirschfeld, developer and CEO of Miami-based One Real Estate Investment, has acquired a multifamily property in the Alief area as part of his ongoing effort to build a substantial Texas apartment portfolio.
The newly acquired property is Winding Trails Apartments, a 438-unit complex located at 10300 Wilcrest near Bissonnet Street.
“We are very excited as we continue to grow and expand into different markets. At this time we are working on three new acquisitions totaling 900 apartments and are looking to end the third quarter with another 1,200 units. This will put us close to 8,000 apartments,” Hirschfeld said.
Earlier this month, Hirschfeld purchased The Vibe at Landry Way, a 224-unit community on 12 acres at 7412 Ederville Road in Fort Worth.
Last year he added two more Houston-area properties to his holdings: Avalon at Royal Oaks at 2310 Crescent Park Drive, acquired for $30 million in July, and another 446-unit multifamily property purchased for $20.3 million in May.
One Real Estate Investment’s portfolio now exceeds $500 million in value and includes more than 5,500 Class B and C multifamily apartments across its markets.
The recent sale of Winding Trails Apartments was brokered by Jennifer Campbell, an associate at Marcus & Millichap. Anthony L. Morrison, a partner at Kapp Morrison LLP, also participated in the transaction.
July 28, 2017 Realty News Report Copyright