Houston (January 15, 2015) — CBRE Capital Markets’ Multifamily team in Houston
announces the sale of Alta Heights on behalf of Houston-based Wood Partners.
MIG Real Estate, based out of Newport Beach, California, purchased the Class A
multifamily asset for an undisclosed price.
Alta Heights is a 217,699-square-foot, four-story mid-rise property,
located in the inner loop of Houston in the Heights community. The development
was recently completed in the first quarter of 2014 and has experienced a high
leasing velocity averaging 25 units per month.
The complex is made up of 256 units with an average size of 850 square
"Alta Heights provides residents with a unique opportunity
to own an asset inside the inner loop that is within walking distance to
multiple retail and neighborhood amenities,” said Ryan Epstein, Executive
Vice President with CBRE.
Community amenities include a resort style pool with walk-in beach entry;
state-of-the-art fitness center; two-story resident clubhouse with business
center; courtyard with gas grills and fountains; five-story parking garage and
Unit amenities include granite countertops, faux wood blinds,
programmable thermostats, in-unit washers and dryers, and vinyl wood plank
flooring, among others.
About CBRE Group, Inc. CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2013 revenue). The Company has approximately 44,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through approximately 350 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.