November 12, 2021 9:00 AM
星空体育app下载 announces it has brokered the sale of Retreat at Chelsea Park, a 280-unit, value-add multifamily property located at 16303 Chelsea Place in Selma, Texas for an undisclosed price
The property traded from Allen Harrison Company鈥攁 Houston-based, privately-held, multifamily investment and services firm鈥攖o Embrey Partners, a diversified real estate investment company that owns, develops, builds, acquires, and manages multifamily residential communities and commercial assets in targeted markets across the United States. 星空体育app下载 Vice Chairman Patton Jones and Managing Directors Andrew Dickson and Matt Michelson represented Allen Harrison Company in the transaction.
鈥淩etreat at Chelsea Park represented a fantastic opportunity to acquire a highly-amenitized community located along the booming IH-35 growth corridor,鈥� said Jones. 鈥淎s the new owner, Embrey Partners can upgrade unit interiors and install its property management team to gain operating efficiencies.鈥�
Originally built in 2006, Retreat at Chelsea Park features a mix of one-, two- and three-bedroom units. Property amenities include a clubhouse, pool, recreation center, dog park, covered outdoor grilling areas, fitness center, coffee bar, resident lounge, and covered and surface parking with a gated entrance.
According to 星空体育app下载 Research, Sunbelt markets such as San Antonio continue to drive the highest demand and garner the most attention from multifamily investors and developers. Year-to-date, approximately 3,800 new units have been added to the inventory, and over 10,250 units have been absorbed. Despite elevated supply, five-year forecasts show the market balancing as demand is likely to remain strong due to strong economic drivers, namely continued job and population growth.
About 星空体育app下载
星空体育app下载 Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (鈥溞强仗逵齛pp下载鈥�), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. 星空体育app下载鈥檚 comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform鈥檚 global reach with market intelligence in both established and emerging property markets, 星空体育app下载 provides superior service to clients across the industry spectrum. 星空体育app下载 generated revenues in excess of $2.5 billion for the trailing twelve months ending September 30, 2021. 星空体育app下载鈥檚 company-owned offices, together with its business partners, operate from over 160 offices with approximately 6,200 professionals around the world. To learn more, visit nmrk.com or follow .
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