Hines Looks To Sell WaterWall Place Near Galleria
WaterWall Place luxury apartment complex, a Hines Global REIT-owned asset, is set to be sold. HFF's Chris Curry, Todd Marix, Matt Kafka and Todd Stewart will be marketing the asset. The community has averaged 93.5% occupancy since last year, and it has a 71% renewal rate this year, according to HFF.
“WaterWall Place is a very special project for us,” Hines founder Gerald Hines says. “It was the anchor project for our new multifamily platform, so we worked hard to make it timeless and appealing to discerning renters. Its privileged location overlooking a city park and proximity to the Galleria area sets it apart as a singular investment in our hometown of Houston.”
With high occupancy in Houston's strongest submarkets, HFF's Todd Marix tells us he expects the asset to fetch a good price despite the perceived market downturn in Houston.
