{"id":1004096129,"date":"2014-05-07T21:01:40","date_gmt":"2014-05-08T05:01:40","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=260168"},"modified":"2022-03-05T12:28:10","modified_gmt":"2022-03-05T20:28:10","slug":"white-oak-buys-300-unit-m-f-community-memorial-city-mall-adds-seven-new-retailers","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/white-oak-buys-300-unit-m-f-community-memorial-city-mall-adds-seven-new-retailers\/","title":{"rendered":"White Oak Buys 300-Unit M-F Community; Memorial City Mall Adds Seven New Retailers"},"content":{"rendered":"

By Amalia Otet, Associate Editor<\/em><\/p>\n

Columbus, Ohio-based White Oak Partners L.L.C. has acquired Colorado Club Apartments, a 300-unit multifamily community in East Houston. HFF marketed the property on behalf of the seller, Capital Equity Group of Cleveland. The purchase price was not disclosed.<\/p>\n

Colorado Club sits on a 10-acre tract at 794 Normandy St., two miles north of the Houston Ship Channel and Port of Houston, and 9.7 miles east of downtown Houston. It offers a mix of one- and two-bedroom apartment units, averaging 753 square feet. Interiors feature washer\/dryer connections, fireplaces, wet bars and spacious layouts. Community amenities include a resort-style swimming pool, fitness center and playground.<\/p>\n

The property was 98 percent leased at the time of closing.<\/p>\n

The HFF investment sales team representing the seller was led by director Chris Curry, senior managing directors Todd Marix and Todd Stewart and director Tre Banks.<\/p>\n

According to Chris Curry, the multi-housing complex has an ideal location in a strengthening submarket of Houston that has no new supply coming online. “Over the next three years, $35 billion will be invested into the Port of Houston, ultimately creating more than 250,000 jobs and increasing demand for housing,” Curry pointed out.<\/p>\n

White Oak Partners is a leading privately held sponsor of national multifamily real estate investments. The company acquires, owns and manages a portfolio of apartment communities and is actively pursuing multifamily investment opportunities across the U.S., with a particular focus on the Southeast and Southwest. The management team at White Oak Partners averages over 25 years of experience in acquiring, developing and managing more than $14 billion in real estate in their careers, including more than 140,000 multifamily units.<\/p>\n

Meanwhile, MetroNational announced the addition of \"\"<\/a>several new retailers to the epicenter of its mixed-use development in Houston: Memorial City Mall.<\/p>\n

Seven new retailers — including Vera Bradley, Banana Republic, Soma Intimates and Chico’s — will set up shop within Memorial City\u2019s premier shopping and recreational destination.<\/p>\n

“Our success in bringing on new tenants is a direct result of our current tenants’ retail volumes and the increasing growth and density of the surrounding market,” said Danna Diamond, director of retail leasing for Memorial City. “With over 2 million square feet in office space, multifamily residences within walking distance and proximity to the West Houston area, our tenants are able to tap into a range of customer demographics and convert sales.”<\/p>\n

In the past year, the Memorial City Mall saw annual sales per square foot approaching $800.<\/p>\n

Photo credit: Memorial City Mall<\/a> courtesy of MetroNational via PRNewsFoto<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Columbus, Ohio – based White Oak Partners, LLC has acquired Colorado Club Apartments, a 300-unit multifamily community in East Houston. HFF marketed the property on behalf of the seller, Capital Equity Group of Cleveland, Ohio.<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1589,21742],"tags":[39438,1815],"class_list":["post-1004096129","post","type-post","status-publish","format-standard","hentry","category-houston","category-latest","tag-houston","tag-national"],"acf":[],"yoast_head":"\nWhite Oak Buys 300-Unit M-F Community; Memorial City Mall Adds Seven New Retailers - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/white-oak-buys-300-unit-m-f-community-memorial-city-mall-adds-seven-new-retailers\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"White Oak Buys 300-Unit M-F Community; Memorial City Mall Adds Seven New Retailers\" \/>\n<meta property=\"og:description\" content=\"Columbus, Ohio - based White Oak Partners, LLC has acquired Colorado Club Apartments, a 300-unit multifamily community in East Houston. 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