Waterstone Place in Stafford, Texas

Newmark Negotiates Sale of Three-Property Portfolio in Houston and Austin Metro Areas

by Channing Hamilton

AUSTIN, KATY AND STAFFORD, TEXAS — Newmark has brokered the sale of the Long Star 3-pack, a three-property portfolio that totals 673 units across the Houston and Austin metropolitan areas. Nitya Capital sold the portfolio to Disrupt Equity for an undisclosed price. Zach Springer, Jim Young and Carter Mizell represented the seller in the transaction. The portfolio comprises Treehouse, Stonecreek and Waterstone Place.

Treehouse, located at 2501 Wickersham Lane in Austin, encompasses 297 units on a 12.5-acre site. Stonecreek is located at 20000 Saums Road in Katy and offers 208 units with an average size of 830 square feet. Waterstone Place, located at 516 Stafford Springs Place in Stafford, comprises 168 units, each averaging 1,030 square feet. According to Newmark, all three properties offer value-add potential for enhancements through amenity and interior upgrades. Most of the units have recently received updates to flooring, kitchen appliances and lighting.

You may also like