(MENAFN- PR Newswire)
HOUSTON, Aug. 4, 2022 /PRNewswire/ -- New York-based Sunsail Capital and Dallas-based ZaneCRE ™ announced the joint acquisition of Sarah at Lake Houston, a garden-style community located in Humble, Texas, a premier submarket within the Houston MSA. The teams are led by Julia Bykhovskaia at Sunsail Capital, and Iqbal (Ike) Mutabanna and Dustin Howard at ZaneCRE.
Sarah at Lake Houston
The Sarah at Lake Houston is a 350-unit, 2020 construction, Class A+ multifamily community located in the fastest growing submarket within the Houston MSA. The property features unique lakeside living and an exceptional amenities package highlighted by a resort style pool, biergarten, multi-sport simulator, state-of-the-art athletic center, executive business and conference center, and dog park, along with luxurious interior finishes.
The investment leads commented: 'We believe in the strength and stability of the Houston metro market and it's long term growth potential. We are proud to add Sarah at Lake Houston to our real estate portfolio in TX. This property is in a strong position due to its stable, high-income tenant base and superb location. We continue to see strong growth across the state of Texas, led by jobs and population growth and a diverse mix of economic and quality of life benefits for residents throughout the area.'
The property is located less than 10 minutes away from Generation Park, a master planned commercial development anchored by Fortune 500 company TechnipFMC (2,000+ high tech jobs) and just 30 minutes from downtown Houston (158k+ jobs), The Texas Medical Center (106K employees and Uptown/Galleria (84K employees), and the Port of Houston (67K employees).
Zack Springer of Newmark brokered the transaction. Purvesh Gosalia, also of Newmark, structured the financing for the deal. About Sunsail Capital
Sunsail Capital invests in workforce housing multifamily assets in Texas. The company targets institutional quality Class B apartment complexes with 200 units or above and focuses primarily on performing stabilized properties with a value-add component with a deal size of $25-$80mm. For more information, please visit About ZaneCRE
Zane acquires commercial and large-scale apartment properties that enable rent growth, expense reduction, and value appreciation. With over $250 million of assets under management, the principals at Zane have an established track record of delivering value. Learn more:
SOURCE Sunsail Capital
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