Mid-America Apartment Communities Inc. sold the 274-unit Westborough Crossing multifamily complex in Katy, TX, to Mosaic Residential Inc. for $12.9 million, or approximately $47,000 per unit.
The 197,264-square-foot apartment community is at 2031 Westborough Drive and consists of one- and two-bedroom units in 19 buildings. It was built in 1984 in the Katy Freeway West submarket and was close to 95 percent occupied at the time of sale.
Tre Banks of HFF represented Mid-America Apartment Communities, and Mosaic Residential was represented internally.
Please see CoStar COMPS #2248617 for more information on this transaction.