February 27, 2014

Retreat at Shadow Creek Apartments Sold

Atlantic Creek Real Estate Partners, LLC (“Atlantic Creek”) is pleased to announce the sale of Retreat at Shadow Creek Ranch. The purchaser closed on the 98 percent leased property on February 27, 2014. Atlantic Creek partnered with McCann Real Estate Partners to develop the new 370 unit class “A” multi-family project that was completed in July 2013.

The property is located within the 3,500 acre master planned community, Shadow Creek Ranch, located in Pearland, Houston MSA, TX. Pearland was recently identified as the second fastest growing city in Texas and the 15th fastest growing city in the U.S. The property is located approximately 12 miles south of the Texas Medical Center and the Houston CBD. The 2014 average household income is estimated to be $106,926 within a 1-mile radius.

Atlantic Creek, with offices in New York, NY, Palm Beach, FL, and Los Angeles, CA, 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 Joshua Schwalbe, Senior Vice President, in our New York, NY office at (212) 381-7617 or Jon Trucano, Senior Vice President, in our Palm Beach, FL office at (561) 275-7702.