Bell Heights

Bell Heights 2018-03-27T15:05:18+00:00

Project Description

Background

  • Designed to feed the incredible demand for residential product in the booming Houston Heights.
  • Capitalized on a rare opportunity to execute a large scale redevelopment in a densely populated urban setting.
  • Being developed in partnership with Rohe & Wright Builders and consists of 20 new ground up townhomes and redevelopment of a former AT&T office building into 24 luxury lofts.

Results

  • Sales have averaged 15% higher than proforma underwriting
  • Redevelopment has sparked substantial retail investment on surrounding blocks which continues to push sales volume and pricing on this project

Acquisition Date

August, 2013

Acquisition/Development Cost

$8,700,000

Projected IRR

31% *

Projected Equity Multiple

3.5x *

*IRR & Equity Multiple shown are project level, before split between investors and sponsor.

Project Details

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