HOUSTON, TX – January 16, 2019 – HFF announces the sale and acquisition financing for Winding Trails, a 438-unit, garden-style apartment community in Southwest Houston.
The HFF team marketed the property exclusively on behalf of the seller, One Real Estate Investment. GVA Real Estate Group purchased the asset free and clear of existing debt. In addition, HFF’s debt placement team worked on behalf of the new owner to secure acquisition financing through Ready Capital Structured Finance.
Winding Trails is located at 10330 Wilcrest Drive near Beltway 8 and Interstate 69, which provides connectivity to Houston’s largest employment centers. The nearly 14-acre property was originally developed in 1979 and encompasses a mix of one-, two- and three-bedroom units averaging 803 square feet with a range of amenities, including country kitchens with pass-through bars, wood plank flooring, oversized walk-in closets, washer and dryer connections, and private patios or balconies.
The HFF investment advisory team representing the seller included directors Joey Rippel and Chris Young and analyst Bailey Crowell.
HFF’s debt placement team representing the new owners was led by managing director Robert Wooten and director Michael Johnson.
“Assets like Winding Trails that have provable value-add potential remain limited in Houston and continue to be a draw for opportunistic buyers,” Rippel said. “True value-add is an opportunity that smart buyers can’t pass up.”
