Done Deals: 97-home BTR community changes hands in Katy, TX

Monday, June 3, 2024

97-home BTR community changes hands in Katy, TX

Daniele Colbertaldo

HOUSTON, TX – JLL Capital Markets has completed the sale of Banyan Kingsland Heights, a 97-home, build-to-rent (BTR) community in Katy, Texas. The price was not disclosed.

JLL represented the seller, Banyan Residential, in the sale.

The JLL Capital Markets Investment Sales and Advisory team representing the seller was led by Managing Director Matthew Putterman and Directors Jim Humphries and Daniele Colbertaldo and Analyst Rhett Robins.

Completed in 2021, Banyan Kingsland Heights is a rental community consisting entirely of single family three- or four-bedroom homes. The homes average 1,876 square feet each and offer two-car garages, six-foot privacy fencing, stainless steel appliances, granite countertops, walk-in closets and vaulted or nine-foot plus ceilings.

Rhett Robins

The property is located on 27 acres at 4104 Scarlet Oak Ln. in Brookshire, Texas, just south of Interstate 10 and close to State Highway 99. Brookshire is located about 37 miles west of Downtown Houston and is part of the Katy Independent School District, the top-rated school district in West Houston.

The immediate area boasts strong demographics, including an average household income of $157,802 within a one-mile radius and a 58% growth in population since 2020 as compared to a 0.8% annual U.S. population growth.

Matthew Putterman

In addition, Banyan Kingsland Heights has access to a variety of retail, entertainment and dining options, all within 20 minutes of the property.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers.

The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization.