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MIG Real Estate Completes 256-Unit Multifamily Buy in Texas

12/16/14

Newport Beach-based MIG Real Estate completed a significant multifamily in Texas, having acquired Alta Heights, a 256-unit apartment community in Houston.

Alta Heights is located at 145 Heights Blvd, three miles from Downtown Houston, with direct access to Interstate-10, Interstate-45, Loop-610 and Highway-59 and in close proximity to job centers including Downton Houston, Uptown Houston, the Energy Corridor, and Texas Medical Center.

The propertyís location between Houstonís historical Heights District and the Washington Corridor provides walkable access to retail centers, shops, bars, restaurants and cafes along Washington Avenue. Additional nearby recreation and retail amenities include jogging and bike trails at Buffalo Bayou Park, sports facilities at Memorial Park and The Galleria, the largest shopping center in Texas.

Alta Heights consists of a four-story building with studio, one- and two-bedroom floor plans and a five-story parking structure. Units feature high ceilings, granite countertops, stainless-steel appliances, washers and dryers, walk-in closets, and private patios or balconies. Select units include a technology package featuring Bluetooth-capable, built-in surround sound, computer desks and bookshelves.

Common area amenities at Alta Heights include a resort-style swimming pool with walk-in beach entry, a courtyard with gas grills, a dog park and a two-story resident clubhouse with a business center and state-of-the-art fitness center.

Alta Heights is MIG Real Estateís seventh investment in Texas multifamily properties. It is the companyís third investment in Houston, following the 2012 acquisition of Wynhaven at Willowbrook and the 2013 acquisition of Pine Creek Ranch. Prior to MIG Real Estateís purchase of Alta Heights, the firmís most recent multifamily acquisition was Elan City Centre, a 330-unit apartment home community in Dallas.

Ryan Epstein of CBRE represented the seller in the transaction. Wood Residential Services will manage the property for MIG Real Estate.







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