Cardone Capital Acquires The Heights Collection in Houston from Alliance Residential Company
Cardone Capital purchases two brand new, trophy-quality residential properties with a combined total of 646 units located in the historic Houston Heights neighborhood of Houston, Tex. from Alliance Residential Company.
Cardone Capital has acquired The Heights Collection, two brand new, trophy-quality residential properties with a combined total of 646 units located in the historic Houston Heights neighborhood of Houston, Tex. The properties were purchased from Alliance Residential Company with the help of brokers Chris Curry, Todd Marix, Jeffrey Skipworth, Joey Rippel, Chris Young, Mitch Sinberg, & Matt Robbins of Berkadia.
The Heights Collection is a Class A multifamily asset that was completed in 2021. The properties are located at 1414 North Shepherd Drive and 515 West 20th Street and offer a mix of studio, one-, two-, and three-bedroom units. The properties feature high-end finishes and amenities, including a fitness center, resort-style pool, and rooftop lounge.
Houston is a strong multifamily market, with steady population growth and a diverse economy. The Heights neighborhood is particularly desirable, offering a mix of historic charm and modern amenities. The properties are well-positioned to attract young professionals and families looking for high-quality housing in a desirable location.
Cardone Capital is a real estate investment firm founded by Grant Cardone. The firm specializes in acquiring and managing multifamily properties across the United States. The acquisition of The Heights Collection is in line with the firm’s strategy of acquiring high-quality assets in strong markets.
Alliance Residential Company is a national multifamily developer and manager. The sale of The Heights Collection is part of the company’s strategy to sell stabilized assets and focus on development opportunities.
The sale and financing of The Heights Collection was arranged by Berkadia Institutional Solutions, powered by Moran. The team of brokers included Chris Curry, Todd Marix, Jeffrey Skipworth, Joey Rippel, Chris Young, Mitch Sinberg, & Matt Robbins. Berkadia is a leading commercial real estate services firm that provides a wide range of services to investors and developers across the United States.
Overall, the acquisition of The Heights Collection is a strong addition to Cardone Capital’s portfolio. The properties offer high-quality housing in a desirable location, and the Houston multifamily market is expected to continue to perform well in the coming years.