HOUSTON, TX - CrestMarc, a multifamily property investment firm based in Dallas, and Midloch Investment Partners, based in Chicago, have acquired The Forum at Sam Houston, a 294-unit apartment property serving the Sam Houston State University (SHSU) community in Huntsville, Texas, which is on the I-45 corridor just north of Houston.
Built in 2010, The Forum at Sam Houston features a mix of studio, one, two, and three-bedroom units. The average unit size is 800 square feet. Community amenities include a resort-style pool with sun deck, sand volleyball court, basketball court, 24-hour clubhouse and study lounge, 24-hour fitness center, bark park, complimentary Starbucks Coffee bar, and private shuttle to the SHSU campus.
The Forum is located just 0.4 miles from Sam Houston State University, which has a highly stable and growing student population. Enrollment is approximately 21,000 students. No new competitive purpose-built developments are currently planned in the submarket, supporting sustained leasing strength, continued rent growth, and value creation.
Greg Cason, President of CrestMarc, said, “We are very excited about the acquisition of The Forum at Sam Houston and the investment opportunity it provides. The property is well positioned in the student housing market of Sam Houston State University and has all the modern amenities that students desire.”
Andy Sinclair, CEO and Principal of Midloch Investment Partners, added, “The Huntsville market in the Houston area has a high degree of stability and virtually no new construction, which is certainly appealing. The purchase price of The Forum combined with the upside potential were attractive to us as a value-add investor.”