Three Pillars Capital Group has sold three multifamily communities in Houston for a total of $56 million.
The sales are as follows:
Pine Lake Village, a 96-unit multifamily property, was sold for $12.1 million. The development spans 68,134 rentable square feet and has seen 25 percent rent growth since Three Pillars purchased the property in June 2019. Located within easy access to I-45 and Beltway 8, the one- and two- bedroom development also offers community amenities such as a swimming pool and playground.
Green Tree Place Apartments, a 196-unit multifamily property, was sold for $22.6 million. The development includes 142,544 rentable square feet and has seen 15 percent rent growth since Three Pillars purchased the property in October 2019. Located just off Highway 6 with easy access to the city’s Energy Corridor, the one- and two-bedroom community also offers indoor and outdoor amenities such as a swimming pool, fitness center, outdoor kitchen and
