May 20, 2021
Helix at Med Center Apartments Acquired
Atlantic Creek Real Estate Partners, LLC (“Atlantic Creek”) is pleased to announce the joint venture acquisition of Helix at Med Center Apartments (“Helix” or the “Property”) in Houston, TX. Formerly known as “Lincoln Medical Center Apartments”, the Property closed on May 20, 2021 and is comprised of a 224-unit, class B+, garden-style, multi-family apartment community consisting of eight, three-story apartment buildings and one leasing center. The investment plan is to redevelop, renovate, and reposition the Property to take advantage of its convenient location that offers access to numerous major employment nodes and lifestyle/commercial centers within the Houston MSA.
The Property is approximately 1.5-miles from the Texas Medical Center (“TMC”), which is the largest medical complex in the world encompassing 50 million square feet of patient care, education, and research space. TMC is home to the world’s largest children’s hospital (Texas Children’s Hospital) and the world’s largest cancer hospital (MD Anderson Cancer Center). MD Anderson Cancer Center has been ranked the No. 1 hospital for cancer care in the nation by U.S. News & World Report’s 2020-21 “Best Hospitals” survey. Helix also has a desirable infill location north of the 610 Loop with approximately 900 feet of frontage along Almeda Road, giving Helix residents the ability to drive to the TMC campus in under 10-minutes. The TMC also offers a complimentary shuttle service providing transportation for patients, visitors, and employees within the TMC campus. The Property is conveniently located within walking distance to one of the TMC shuttle stops giving residents at the Property convenient and reliable transportation alternatives.
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.