News

November 12, 2021
Summit @ 7700 and Westbury Crossings Apartments Acquired

Atlantic Creek Real Estate Partners, LLC (“Atlantic Creek”) is pleased to announce the joint venture acquisition of Summit @ 7700 (“Summit”) and Westbury Crossings (“Westbury”, and collectively, the “Houston Properties”) in Houston, TX. Acquisition of the Houston Properties closed on November 12, 2021. Summit is comprised of a 172-unit, class B/B-, garden-style, multi-family apartment community consisting of 13, two-story buildings and one clubhouse/leasing office. Westbury is comprised of a 240-unit, class B/B-, garden-style, multi-family apartment community consisting of 17, two-story buildings and one clubhouse/leasing office. The investment plan is to redevelop, renovate, and reposition the Houston Properties to take advantage of their convenient location that offers access to numerous major employers and retail amenities within the Houston MSA.

The Houston Properties are conveniently located in an area that provides immediate access to Texas’s most prominent thoroughfares and economic/employment sectors including: i) U.S. Route 90 Alternate (approximately 1.5-miles southwest of the Houston Properties) which is an interstate running east-west that feeds into the Houston Central Business District, and ii) Sam Houston Tollway (approximately 2.5-miles southwest of the Houston Properties) which is a toll-road that circles the perimeter of the Houston MSA. In addition, the Houston Properties are located within 25 minutes (approximately 20-miles west) of the William P. Hobby Airport (“HOU”), one of Houston’s major commercial airports serving more than 14 million passengers annually.

Atlantic Creek has offices in New York, NY and Palm Beach, FL and primarily targets direct and joint venture investments in opportunistic and value add office, retail, and multi-family commercial real estate, primarily located on the East and West Coasts of the U.S., Texas, and other select U.S. markets.

For further information on new acquisitions and joint venture opportunities, please contact Jon Trucano, Senior Vice President, in our Palm Beach, FL office at (561) 275-7702.