Eastham Capital, Mosaic partner to acquire 318-unit residential community in Houston
Eastham Capital has partnered with Mosaic Residential in the acquisition of Sola Westchase, a 318-unit residential community located in the Westchase submarket of Houston.
Eastham Capital has invested in the deal through its current fund, Eastham Capital Fund VI. Mosaic has co-invested with Eastham and will oversee the day-to-day management. The acquisition price was not disclosed.
Sola Westchase is 95 percent occupied, with in-place average rents of $1,400 per month. Prior ownership upgraded the interiors of all 318 units with granite countertops, stainless-steel appliances, full-sized washers and dryers, and nine-foot ceilings. In addition, the upgraded amenity package includes a swimming pool and heated spa, sun deck and lounge seating, outdoor barbecue pavilion, fitness center, clubhouse lounge and kitchen, and a business center. Mosaic will be making minimal renovations inside the units and common areas for a more modern look.
Located at 3354 Rogerdale Road