Dallas Firm Buys Houston Multifamily Project, Market briefs

In Houston, Dallas-based Westmount Realty Capital has purchased the 257-unit London Park apartments, a Class B garden-style project on Bammel North Houston Road in North Houston.

The community, which was purchased from an affiliate of Fairfield Residential Company of San Diego, was built in 1982. Renamed Westmount at London Park, it is 95 percent occupied, says Michael Anderson, senior director of acquisitions at Westmount.

Westmount, led by CEO Clifford Booth, has purchased 3,300 multifamily units over the last five years.

“The purchase of London Park has allowed Westmount to strengthen its presence in Houston,” Booth said. “As a major corporate center, Houston is home to 23 Fortune 500 companies and the property’s location allows residents to easily commute to the city’s major employers.”

Financing for London Park was provided by Berkadia.