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2/20/15
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Hartford Park Apartment Homes, a 328-unit multifamily community located four miles from the Energy Corridor in Houston’s Westchase District, was purchased by Omninet Capital. The terms of the sale were not released.
Built in 1983, Hartford Park is located on 9.5 acres along the Westpark Tollway 10 miles from The Galleria and four miles south of the Energy Corridor. Residents can choose from six different one- and two-bedroom floor plans. The average apartment size is 820 sf.
The property is located at 3939 Synott Rd in Houston, near access to Beltway 8, the Sam Houston Tollway, and other major arterial thoroughfares that connect to some of the area’s most well-known employers, including Apache Corp, National Oilwell Varco (Valero), and Samsung Engineering Co.
Hartford Park Apartment Homes’ previous owner renovated 31 of the units with upgrades that include brushed nickel hardware, lighting kits, ceiling fans, plank wood and carpet flooring, bathroom fixtures and two-inch blinds. Apartments feature custom cabinetry, outside storage, balconies and ceiling fans. Select units offer wood-burning fireplaces, cathedral ceilings and garden windows. Shared amenities include controlled access gates, 24-hour emergency maintenance service, a full service laundry facility, swimming pool, hot tub and clubhouse.
Institutional Property Advisors (IPA) executive director Will Balthrope and director Drew Kile represented the seller. Balthrope, Kile and IPA director Nester Clark procured the buyer in the deal.
“The strong job markets in the Energy Corridor and Westchase District and the opportunity to add value through the implementation of a unit enhancement program put Hartford Park in position to provide both long-term stability and appreciation,” says Balthrope.
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