HOUSTON, TX - Atlanta-headquartered ARA, the largest privately held, full-service investment advisory brokerage firm in the nation focusing exclusively on the multihousing industry, announces the sale of the 250-unit Compass Pointe, a multihousing community located in Houston, TX.
ARA Houston Brokers Matt Saunders, Russell Jones, and Zach Springer represented the Arizona-based seller, PEM Real Estate Group, who acquired the property less than a year ago and initiated a life safety and deferred maintenance program at that time
Constructed in 1971, Compass Pointe was 75% occupied at the time of the sale.
The buyer, Dallas, TX-based Urban Southwest Capital, who already owns another property in the submarket, plans to continue the re-hab program initiated by the seller.
Understanding the needs of both parties, allowed ARA to identify a qualified buyer in advance of a formalized marketing. “It was a great deal for both buyer and seller,” stated ARA broker Matt Saunders, “This deal highlights the number of great investment opportunities that abound in the Houston marketplace.”
To schedule an interview with an ARA executive regarding this transaction or for more information about ARA, nationally please contact Lisa Robinson at lrobinson@ARAusa.com, 678.553.9360 or Amy Morris at amorris@ARAusa.com, 678.553.9366; locally, Elizabeth Ahow at ahow@ARAusa.com or 972.939.0161.
About ARA
Atlanta-headquartered ARA is the largest privately held, full-service investment advisory firm in the nation that focuses exclusively on the brokerage, financing and capital sourcing of multihousing properties including conventional, affordable, distressed assets, notes sales, seniors, student & manufactured housing and multihousing land. ARA is comprised of the country’s top investment professionals who leverage a unique and fully integrated cooperative business platform of shared information, relationships and technology driven solutions. ARA’s unified enterprise approach ensures that clients are delivered the broadest asset exposure, effective matching of buyers and sellers, and the shortest transaction timeframes in the industry. The combination of resources, unparalleled market expertise and nationwide presence in the multihousing marketplace has resulted in an annual production volume of $9.5 billion in real estate transactions in 2012. For detailed information on ARA’s extensive multihousing investment services, visit www.arausa.com