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| Villas at Bunker Hill, Houston, TX |
HOUSTON, TX –– HFF announces sale of and acquisition financing for Villas at Bunker Hill, a 398-unit, Class A, mid-rise apartment community in Houston, Texas.
The HFF team marketed the property exclusively on behalf of the
seller, SouthStar Communities. Hilltop Residential purchased the asset
free and clear of existing debt.
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| Cortney Cole |
In addition, HFF’s
debt placement team worked on behalf of the new owner to secure a three-year,
floating-rate acquisition loan through a national bank.
Villas at Bunker Hill is located just north of Interstate 10 at
9757 Pine Lake Drive in Houston’s Memorial City area. The property is
adjacent to a wide variety of retail amenities, including H-E-B, PetSmart, Sam
Moon, Nordstrom Rack, Academy Sports + Outdoors, Best Buy, Lowe’s Home Improvement,
Costco and several dining and lifestyle retailers.
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| Chris Curry |
In addition,
Villas at Bunker Hill is less than two miles north of Memorial City Mall and
Memorial Hermann Memorial City Medical Center. The four-story, wrap-style
property offers access to the five-level parking garage from each floor of the
building and comprises one- and two-bedroom units averaging 963 square
feet.
The property’s nearly
8,000 square feet of amenity space includes two outdoor swimming pools,
grilling areas, a state-of-the-art fitness center, clubhouse, game room with
billiards, business center with conference room and demonstration kitchen.
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| Todd Marix |
The HFF investment advisory team representing the seller included
managing director Chris Curry, senior managing director Todd Marix and
analyst Estee Ibáñez.
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| Estee Ibanez |
HFF’s debt placement team representing the buyer consisted of
managing director Cortney Cole and analyst Jett Lucia.
Holliday GP Corp. (“HFF”) is a Texas licensed real estate broker.
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| Jett Lucia |
For over 35 years, SouthStar has been acquiring, investing in and
managing residential communities across the U.S. Formed by some of the
most seasoned names in development, finance, sales and marketing, SouthStar's
senior management team brings an impressive career of experience and an endless
passion for the industry.
Headquartered in Boca Raton, Florida,
SouthStar Communities thoughtfully designs and delivers communities that
maximize their surroundings, their market and the quality of life for future
generations. For more information please visit our website at www.southstarcg.com.
Headquartered in Houston, Hilltop Residential provides investors
with tax-deferred income and capital appreciation by acquiring and renovating
multi-family properties located in the southern United States.
Hilltop invests
in cities and neighborhoods with strong demographics and positive employment
growth. For more information, visit www.livehilltop.com.
For more information, please contact:
OLIVIA HENNESSEY
HFF Public Relations Specialist
(713) 852-3500
