HOUSTON, TX – July 31, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announces sale of and acquisition financing for Huntington Glen, a 364-unit, value-add multi-housing community in Houston, Texas.

The HFF team marketed the property exclusively on behalf of the seller, BH Equities/L5 Investments.  GVA Real Estate Group purchased the asset free and clear of existing debt.  Huntington Glen is the group’s first purchase in the Houston market.  In addition, HFF’s debt placement team worked on behalf of the new owner to secure a three-year, floating-rate acquisition loan with two one-year extension options through one or more funds managed by Marathon Asset Management, LP.

Huntington Glen is located at 12023 Bissonnet near the intersection of S. Kirkwood Drive in the Alief submarket of southwest Houston.  Completed in 1983, the gated community offers a mix of one-, two- and three-bedroom units ranging from 450 to 1,179 square feet with features, including hardwood flooring, walk-in closets, wood burning fireplaces, sunrooms, washer and dryer connections, and private patios or balconies.  Common area amenities include two swimming pools, a playground area and business center.

The HFF investment advisory team representing the seller included director Joey Rippel and Chris Young and analyst Connor Phillips.

HFF’s debt placement team representing the buyer consisted of managing director Robert Wooten and analyst Jackson Finch.

“The opportunity to purchase true value-add, workforce housing product continues to attract new buyers to Houston,” Rippel said.  “There are few properties like Huntington Glen left in the market today – those that haven’t had any renovations.”

“This transaction is a win-win for both parties involved, given the limited supply of these Class B and C deals in the market and the potential for future growth in returns supported by current long-term trends,” Rippel added.