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Kairoi Residential Acquires Class A Multifamily Community in Houston

Alliance Residential Company Sells 308-Unit Broadstone City Park in Houston Heights
May 9, 2018
Roughly one month after closing on a 1,210-unit apartment portfolio in its home market of San Antonio, multifamily investment and management firm Kairoi Residential finalized a deal with Alliance Residential Co. to acquire Broadstone City Park in Houston for an undisclosed amount.

Built in 2003, Broadstone City Park is a 308-unit, Class A apartment copmplex offering one-, two- and three-bedroom units in 15 buildings. The community is currently 92% occupied and in cludea business center, clubhouse, fitness center and pool with sundeck.

Kairoi plans to invest in interior improvements to the garden-style community, which sits at 1640 E TC Jester Blvd. in the Houston Heights area of northwest Houston.

Please see CoStar COMPS #4233966 for more information about this transaction.
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