Fein Sells Springwoods Village Apartments, Market briefs

The Belvedere Springwoods Village apartments have been sold.

In Houston, MLG Capital, a Wisconsin-based real estate investment firm, has purchased The Belvedere Springwoods Village, a mid-rise 342-unit multifamily community north of Houston.

In The community was developed in 2014 by Martin Fein Interests, a Houston, based multifamily firm that has developed thousands of residential units around the nation.

Berkadia’s Ryan Epstein and Jennifer Ray represented Martin Fein Interests in the sale.

In The Belvedere is located in Springwoods Village, mixed, use development that includes the 3 million-SF Exxon Mobil campus and other corporate offices, retail and residential. Located in northernmost Harris County, Springwoods Village is on the west side of Interstate 45, north of the Grand Parkway.

“The Belvedere Springwoods Village’s extraordinary location, quality construction and unique amenities offer investors long-term term stability, future rent growth and value appreciation,” said Berkadia’s Epstein, a veteran multifamily investment broker.

Berkadia’s John Koeijmans and Austin Blankenship of Berkadia’s Dallas office arranged financing for the buyer, MLG Capital.

In The Belvedere Springwoods Village is a four, story mid-rise apartment property with high-end finishes and structured parking located at 2323 East Mossy Oaks Road. The property has been certified to National Association of Home Builders (NAHB) Green Bronze Level for sustainability.