Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A

Documents

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I accept the confidentiality agreement I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Attributes

Year Built 2017
Building Area
Land Area
Number of units 270

Property Description

Avenue Grove is a trophy-quality, multi-housing asset in Houston's urban core. This recently constructed and stabilized community is in the heart of Houston's famed Upper Kirby District between the prestigious River Oaks and West University neighborhoods. It is the featured residential component of the 11-acre Kirby Grove mixed-use development and the sole residential community adjacent to popular Levy Park, creating a strategically integrated and innovative sense of place uncommon in the Houston market. Avenue Grove is available on an All Cash basis.

Investment Highlights

  • Trophy-Quality Asset with Real Estate Permanency - Avenue Grove is a non-commodity, luxury mid-rise community with infill, park-adjacent acreage in a dynamic mixed-use development. The concrete and lightweight steel building is LEED Silver certified and built to condominium quality standards. Land scarcity and development costs make it near impossible to replicate the combination of its asset quality and locational attributes.
  • Incomparable, Immersive Sense of Place - Avenue Grove is the residential component of Kirby Grove, a world class mixed-use development and community focal point of Houston’s Upper Kirby District. The synergistic assets and tenancy create demand for one another. Avenue Grove overlooks Levy Park, an award-winning, 5.6-acre, urban greenspace with year-round programming and events, plus offerings from celebrity chef Tim Love. With 5,000 to 10,000 visitors weekly, Levy Park continually attracts desirable renters-by-choice to Avenue Grove's front door, a featured amenity unavailable at any of its peers.
  • Affluent Demographics and Housing Market - Avenue Grove is advantageously positioned amongst Houston's wealthiest residential neighborhoods. The average home value within a one-mile radius is $894,278 with limited inventory available. Multi-housing absorption rates lead the urban core in this area, and communities operate at above-market rates with strong supporting demographics that yield premium rents and returns.  
Last Updated Date: 09 Oct 2020
Todd Marix
Todd Marix
Senior Managing Director, Capital Markets
License details
TX-390880
Chris Curry
Chris Curry
Senior Managing Director, Capital Markets
License details
TX-0566750

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Last Updated Date: 09 Oct 2020

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