BETHESDA, Md., Sept. 21, 2021 /PRNewswire/ -- Walker &
Dunlop, Inc. announced today that it completed the sale of
Vineyards, a 369-unit, garden-style community in
Katy, Texas. Built in 2003, the
property is within the Houston
metropolitan area and has significant value-add potential.
Walker & Dunlop's Houston Multifamily Investment Sales team
represented the seller, Preferred Apartment Communities in the
transaction to the buyer, Knightvest Capital. Director Scott Bray and Managing Directors
Ryan Epstein and Jennifer Ray, effectively communicated the
property's investment benefits, including its long-term stability,
future rent growth, and value appreciation.
"Thanks to its ideal location within the Katy submarket and Katy's top-ranked school district, Vineyards
was an excellent investment. The property also had strong
month-to-month performance, which has maintained momentum
throughout the pandemic," commented Bray. "With nearly all of the
units in original condition and the strong occupancy at the asset,
Vineyards is well-positioned for a value-add strategy through an
interior unit renovation program."
Mr. Bray added, "Vineyards presented a wealth of attractive
attributes for our clients who were looking to invest in the
Houston multifamily market. We're
certain that Knightvest will continue to maximize the property's
value."
Vineyards' proximity to Interstate 10, Highway 6, and the TX 99
Grand Parkway affords convenient access to the city's highest
income employment centers. These include the Central Business
District, Westchase District, and the Energy Corridor, which are
home to many corporate headquarters and local businesses.
Additionally, residents of Vineyards are within minutes of many
dining, shopping, and entertainment options. With large unit sizes,
plenty of green space, and unparalleled schools in the area, the
community is highly desirable for residents seeking a live, work,
and play environment.
Walker & Dunlop is a leader in multifamily property sales,
having completed $6.1 billion in
property sales volume in 2020. The firm was also the top provider
of capital to the U.S. multifamily market, originating $31 billion in transactions and lending over
$24 billion for multifamily
properties in 2020. For information about Walker & Dunlop's
view on the apartment market, read our
recently-released Summer 2021 Multifamily Outlook Report.
About Walker & Dunlop
Walker &
Dunlop (NYSE: WD) is the largest provider of capital to the
multifamily industry in the United
States and the fourth largest lender on all commercial real
estate including industrial, office, retail, and hospitality.
Walker & Dunlop enables real estate owners and operators to
bring their visions of communities — where Americans live, work,
shop and play — to life. The power of our people, premier brand,
and industry-leading technology make us more insightful and
valuable to our clients, providing an unmatched experience every
step of the way. With over 1,000 employees across every major
U.S. market, Walker & Dunlop has consistently been named
one of Fortune's Great Places to
Work® and is committed to making the
commercial real estate industry more inclusive and
diverse while creating meaningful social, environmental,
and economic change in our communities.
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SOURCE Walker & Dunlop, Inc.