Richmond, VA – May 1st, 2015 − 37th Parallel Properties (“37th Parallel”), a total return focused commercial multifamily acquisitions and asset management firm, announced today it has recently closed on Oaks of Westchase in Houston, TX.
Oaks of Westchase is a 182-unit apartment complex made up of 96 one-bedroom and 68 two-bedroom apartments. The property also features ten 1-bedroom and eight 2-bedroom townhome-style apartments.
”We are pleased to add another solid asset to our Houston portfolio. Houston is forecasted to lead the country in population growth and job growth for the next five years. It is also the #1 city in the country for blue-collar and healthcare jobs. This matches perfectly with our acquisition and asset management criteria,” Dan Chamberlain, COO of 37th Parallel commented.
Oaks of Westchase is well located less than 15 miles from downtown Houston and only minutes away from the Galleria, Houston’s premier shopping and dining district. Its proximity to major job centers and highways is attractive to a broad mix of residents.
Property amenities include a clubhouse, swimming pool, two laundry facilities and gated access.
Look for additional acquisition announcements in Q2 and beyond as the firm adds more stable multifamily assets to the portfolio.
37th Parallel Properties provides commercial multifamily investment and asset management services for select private clients across the United States and Internationally. To learn more, visit our website or call 888.837.3720.