Houston real estate firm buys Memorial-area apartments to develop mixed-use project

May 18, 2016

May 17, 2016, 8:08am CDT | Houston Business Journal

A Houston-based real estate investment firm bought a multifamily property in the Memorial City area with plans to eventually develop a mixed-use project on the site.

Moody National Cos. bought the 164-unit Le Renaissance apartment community from Texas Pinnacle Apartments for an undisclosed price, according toTranswestern’s Houston multifamily investment services group. The property is at 970 Bunker Hill Road, just south of Interstate 10 and east of Memorial City Mall.

Moody National will operate the property as-is in the short term, but the company eventually plans to redevelop the site into a mixed-use office and retail project.

Transwestern Managing Director Ed Cummins and Senior Associate Ryan Mendez represented the seller.

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Gil Armour, CFP
February 3, 2016

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