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| The Palms at Cinco Ranch apartments, near State Highway 99 at 23600 Farm-to-Market 1093 Road Richmond, Texas, within the Katy, TX independent school district. |
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| Norman Eastwood |
RICHMOND, TX – Marcus & Millichap Real Estate Investment
Services, the nation’s largest real estate investment services firm, has
arranged the sale of The Palms at Cinco Ranch, a 200-unit,
218,388-square-foot multifamily apartment complex in Richmond, Texas,
approximately 15 miles southwest of Houston. The terms of the sale were not
released.
Norman
Eastwood, senior vice president investments in Marcus & Millichap’s
Dallas office, Jerry Goldstein,
first vice president investments and Juan Cuevas, associate, both in the
firm’s Houston office, represented the seller, an out-of-state private
investor, and the buyer, Hudson Capital Investments based in Charleston, S.C.
“The
Houston metro’s apartment sector is riding tailwinds generated by one of the
nation’s strongest and fastest-growing economies,” says Eastwood.
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| Jerry Goldstein |
“Broad-based hiring
across multiple industries enhances the metro’s stature as a magnet for recent
graduates from local and regional colleges, further expanding the pool of
prospective renters.”
“West Houston and its surrounding suburbs have become an
affluent white-collar area with strong entertainment and business sectors,”
adds Cuevas. “The area is home to numerous restaurants, retail centers,
shopping malls and businesses.”
The
property is located near State Highway 99 at 23600 Farm-to-Market 1093 Road
in Richmond, Texas, within the Katy, Texas, independent school district.
George Bush Intercontinental Airport is 20 miles northeast of the complex.
Constructed in 2010 on 13-plus acres, The Palms at Cinco Ranch features
a wide selection of one-, two- and three-bedroom floor plans ranging from 801
square feet to 1,496 square feet. The units have gourmet kitchens with deluxe
appliances, including self-cleaning ovens, frost-free refrigerators with
icemakers, built-in microwaves, multi-cycle dishwashers, garbage disposals and
spacious pantries.
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| Juan Cuevas |
Other apartment amenities include crown moldings, nine-foot
ceilings, double vanities in the master bathrooms, separate showers, private
patios or balconies, ceiling fans, built-in computer desks, walk-in closets and
intrusion alarms.
The Palms
at Cinco Ranch is a gated, pet-friendly community that features shared
amenities such as a state-of-the-art clubhouse, a business center with a
conference room, a game lounge, a 24-hour fitness center, a resort-style pool
with a large sundeck and Jacuzzi, a barbecue grilling area and 34 detached
garages.
For a complete
copy of the company’s news release, please contact:
Gina Relva
Public Relations
Manager
(925) 953-1716
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