HOUSTON – (Realty News Report) – The Praedium Group, a New York–based national real estate investment firm, has acquired Everly Apartments, a 387-unit complex in west Houston.
Located at 2827 Dunvale, the property was built in 2018 by the Walter Embrey organization of San Antonio. It sits just south of Westheimer Road, close to the AMC Studio 30 movie theater.
“We continue to target the Houston MSA, which has seen strong net in-migration, is home to more than three million jobs, and ranks as the fifth-most populated metro area in the U.S.,” said Peter Calatozzo, a principal of The Praedium Group. “Houston’s diverse economy benefits from growth in healthcare, engineering, distribution and logistics, education and entertainment, as well as the energy sector. Acquiring Everly Apartments aligns with our strategy of purchasing high-quality assets in growing markets. In addition, Everly offers attractive rents for a recently built property with an extensive amenity package and proximity to several of Houston’s major employment centers.”
Everly Apartments consists of four two-story carriage-home buildings, four four-story apartment buildings, and two three-story apartment buildings. Unit sizes range from 659 to 1,292 square feet.
Founded in 1991, The Praedium Group has completed more than 370 transactions representing roughly $12 billion in capital.
Oct. 14, 2019 Realty News Report Copyright 2019
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