March 19, 2020
Sunswept Townhomes Acquired
Atlantic Creek Real Estate Partners, LLC (“Atlantic Creek”) is pleased to announce the joint venture acquisition of Sunswept Townhomes (the “Property”) in Houston, TX. The Property closed on March 19, 2020 and is comprised of a 211-unit, class B-, garden/townhome-style, multi-family apartment community consisting of 32, one and two-story buildings. The investment plan is to redevelop, renovate, and reposition the Property to take advantage of its convenient location that offers access to numerous major employers and retail amenities within the Houston MSA.
The Property is 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 south of the Property) 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 Property) which is a toll-road that circles the perimeter of the Houston MSA. In addition, the Property is 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 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.