MULTI-FAMILY

Arlo

Arlo
| 265 Class A Units


Joint venture with prominent Northeastern institutional equity partner seeking value-add returns on core-plus product.

Best-in-submarket product purchased at a discount to replacement cost. Submarket rent growth expected to outperform that of Metro Houston due to the expanding employment base on the Sam Houston Tollway.

Location
3505 W Sam Houston Parkway
Houston, TX 77042
Size
5 acres (53 units/acre)
Strategy
Basis play on core-plus product
Debt
55-60% LTV fixed I/O with major Life Co.
Description
4-story wrap with top of the line amenities
Year Built
2015
Units
265
Avg. Unit Size
874 sf
Effective Rent
$1,292/unit, $1.48/sf
Occupancy
95%