12/4/2007

H&P directs sale of Texas multi-family

by Eric Ramsden

Woodmoor Apartments

Saratoga, Calif.-based Broadway Hampton Court, LP has acquired the Park at Woodmoor Apartments in Shenandoah, Texas from Colorado Springs, Colo.-based Crest Way Management, Inc.

Chip Nash and Winston Black of Hendricks & Partners represented Crest Way in the transaction.

The 220-unit multi-family complex is located at 8787 Shenandoah Park Drive and sold with an approximate 6.1 percent capitalization rate. It contains 12 two- and three-story buildings on 10.69 acres and was built in 2000. Broadway assumed an existing HUD 221-d-4 debt in the acquisition.

Shenandoah is located roughly 30 miles north of Houston in Montgomery County and has a population of 1,500.

Address: 8787 Shenandoah Park Drive, Shenandoah, Texas

Size: 220 units

Built: 2000

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Filed Under: Multi-Family

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