IPA Arranges the Two Largest Multifamily Sales of the Year in Texas

  

 HOUSTON, TX – Institutional Property Advisors (IPA), a national brokerage platform specializing in serving the needs of institutional and major private investors, has arranged the sale of two luxury urban infill assets in Texas: The 450-unit Boardwalk at Town Center (top left photo) located in The Woodlands, and the 404-unit AMLI City Vista (middle right photo), located in Houston.  The terms of the individual transactions were not disclosed.

IPA’s Balthrope Group, led by Will Balthrope (middle left photo), a senior director and Ryan Epstein, a director, brokered both transactions.

 The seller of Boardwalk at Town Center was USAA Real Estate and the buyer was MEPT, a private equity fund advised by Kennedy Associates. The seller of City Vista was Koontz McCombs, and the buyer was AMLI Residential.

“These are the two largest multifamily assets to trade so far this year in Texas,” explains Balthrope. “In addition, these transactions closed within three days of each other, illustrating continued investor demand for quality infill product throughout the state of Texas.”

The 444,693 square-foot Boardwalk at Town Center is a 450-unit, luxury apartment complex located in The Woodlands, a prestigious master-planned community. Designed by Humphreys & Partners Architects and developed in 2008, the institutional-grade asset includes resort-like amenities and has received numerous design awards.

 The 9.27-acre property is located within a walking distance or short commute to more than 1,550 firms, 6.4 million square feet of office space and 43,000-plus jobs.

AMLI City Vista, also developed in 2008, is a 385,358 square-foot mid-rise luxury apartment complex designed to appeal to young urban professionals.

The 5.7-acre property is surrounded by employment centers and expressways: One mile east of City Vista is downtown Houston and Interstate 45, approximately one mile north is I-10, one- and one-half miles south is Highway 59, three miles south is Texas Medical Center, and four miles west is Uptown Houston.

The property is situated a few blocks north of Buffalo Bayou, Houston’s premier greenbelt and recreation area.

Contact: Stacey Corso. Public Relations Manager, (925) 953-1716