BRYAN, TX –
Institutional Property Advisors (IPA), a division of Marcus & Millichap
specializing in serving institutional and major private real estate investors,
is pleased to announce the sale of Park Hudson Place, a 232-unit multifamily
asset in Bryan, Texas. The terms of the sale were not released.
Will Balthrope |
IPA executive director Will Balthrope and IPA directors Drew Kile and Nester Clark represented the seller, an entity led by Klabzuba
Realty, and procured the buyer.
“Park Hudson Place is situated
within the Bryan/College Station metropolitan statistical area, which is one of
the fastest-growing secondary markets in Texas,” says Balthrope. “The acquisition
provides the new owner with a first-generation value-add opportunity and
excellent revenue growth potential.”
“This transaction represents the completion of
a successful business plan that generated attractive returns to our investors,”
adds Klabzuba executive vice president Clint Corn. “The property execution
team, led by Alamo Manhattan and Myan Management, was able to stabilize the
asset and capitalize on the growth in the market.”
Park Hudson Place is located at 4050 Pendleton Drive in Bryan
approximately three miles from Texas A&M University and near the
intersection of Texas State Highway 6 and University Drive.
Science Park at
Research Valley, a 53-acre master-planned development created to serve as a hub
for scientific innovation and technology transfer is less than four miles from
the property.
Drew Kile |
Park Hudson
Trail, which is approximately two miles long and expands over 59 acres and
connects to 12-acre Tiffany Park, is across the street.
Also across the street
is the Brazos County Tax office which is under construction. The Physicians
Centre Hospital is a half-mile away.
“Buyer interest for this asset was
very strong as investors recognized the strength of the Bryan/College Station
market,” notes Kile.
Apartments at Park Hudson Place
feature full-size washers and dryers, laminate wood floors, carpet and tile,
ceiling fans, crown molding, linen cabinets and walk-in closets.
Community
amenities include a limited-access gate, detached garages, carports, a
resort-style swimming pool, a fitness center, a business center, a conference
room, a clubroom and a barbecue and picnic area.
“Our team’s activity in all of the
major markets in Texas allowed us to introduce this top secondary market to new
buyers,” concludes Clark.
For a complete copy of the company’s
news release, please contact:
Gina Relva
Public
Relations Manager
(925)
953-1716
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