​HOUSTON – Transwestern’s Houston Multifamily Investment Services Group today announces it completed the sale of the 164-unit Le Renaissance apartment community to Moody National Cos. Transwestern Managing Director Ed Cummins and Senior Associate Ryan Mendez represented the seller, Texas Pinnacle Apartments. The buyer, which acquired the property for an undisclosed price, will operate the project as is in the short term with plans to eventually redevelop the site into a mixed-use office and retail development.

“Le Renaissance is a very unique asset that generated considerable attention from the market,” said Cummins. “Arguably one of the finest locations in Houston, prospective purchasers were divided evenly between value-add apartment operators and investors looking to redevelop the site for another use.”

Located at 970 Bunker Hill Road, just south of Interstate 10, Le Renaissance benefits from an average daily traffic count of more than 300,000 vehicles. The property is in close proximity to more than 12 million square feet of new Class A office developments, including the 240,000-square-foot Cemex headquarters.

Currently, Transwestern’s Houston Multifamily Investment Services team is marketing nine additional properties. A complete list of properties is available at http://listings.twhoustonmultifamily.com.

 

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Transwestern is a privately held real estate firm of collaborative entrepreneurs who deliver a higher level of personalized service – the Transwestern Experience. Specializing in Agency Leasing, Management, Tenant Advisory, Capital Markets, Research and Sustainability services, our fully integrated global enterprise adds value for investors, owners and occupiers of all commercial property types. We leverage market insights and operational expertise from members of the Transwestern family of companies specializing in development, real estate investment management and research. Transwestern has
34 U.S. offices and assists clients through more than 180 offices in 37 countries as part of a strategic alliance with BNP Paribas Real Estate. Experience Extraordinary at transwestern.com and @Transwestern. For updates from the Houston office, follow @TranswesternHOU.

 

 

Media Contact:
Shannon Bedinger
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shannon.bedinger@transwestern.com
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