HOUSTON – (Realty News Report) – Satya Inc., a Houston-based commercial real estate development and consulting firm, has sold its 12-acre tract in Katy to Davis Development, an Atlanta-based multifamily developer.
The site is located at the northwest corner of Morton Ranch Parkway and the Grand Parkway. Berkadia represented Davis Development, which already owns and operates multiple multifamily communities, including six properties in the Houston market as well as additional apartment communities in Georgia, Florida, Colorado and the Carolinas.
Satya, founded in 1999 by Sunny Bathija and Ameen Ali, was represented in the transaction by Edge Realty Partners. In a separate deal last fall, Satya teamed with Stoltz Partners to acquire the 500-acre Moran Ranch near Willis and FM 1097 for a larger development project north of Houston.
According to Bruce McClenny, president of ApartmentData.com, Houston’s Inner Loop neighborhoods — including The Heights, Washington Avenue and Montrose — currently lead the region in multifamily construction activity. McClenny noted, however, that suburban markets such as Katy offer land-price advantages that make it feasible for developers to build apartment communities with more attainable rents. He made those remarks at the annual Houston Apartment Association breakfast held Tuesday at the new Westin hotel in the Texas Medical Center.
Jan. 30, 2020 Realty News Report Copyright 2020
BOOK SIGNING THURS. JAN. 30 – 5 to 7 PM @ River Oaks Book Store, 3270 Westheimer
A NEW BOOK FOR THE YEAR – by Ralph Bivins, Editor of Realty News Report
Houston 2020: America’s Boom Town – An Extreme Close Up
Available on Amazon
