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HOUSTON, TX – February 7, 2019 – HFF announces it has closed the sale of Vanderbilt Court, a 164-unit, garden-style multi-housing community in Southwest Houston.
HFF marketed the property exclusively on behalf of the seller, 37th Parallel, and procured the buyer, Indus Management Group.
Vanderbilt Court is situated on more than five acres at 12630 Ashford Point Drive approximately one half of a mile from the intersection of S. Dairy Ashford Road and Westpark Tollway. Originally constructed in 1983, the value-add, vintage property features of a mix of efficiency units and one- and two-bedroom townhome units averaging 835 square feet. Community amenities include a clubhouse, business center, fitness center, two resort-style swimming pools, hot tub and sundeck with outdoor dining space. More than $1.2 million of renovations to the property have been completed since 2011, including new roofing, all new HVAC systems, exterior painting, new signage and amenity improvements.
The HFF investment advisory team representing the seller included directors Joey Rippel and Chris Young.