Kurtell Properties acquired Reserve at Autumn Creek, a 212-unit multifamily complex in Friendswood, TX, from a California-based partnership for $25.5 million or $120,283 per unit..
The Reserve is a 219,011-square-foot community on 17.75 acres at 3102 W. Bay Area Blvd. It is approximately 25 miles southeast of Houston. The 11-year-old property features 21 two-story buildings with up to three-bedroom homes and nine-foot ceilings. The units range from 679 to 1,463 square feet and asking rents are from $932 to $1,597 per month.
Norman Eastwood, a senior vice president of investments for Marcus & Millichap, represented the seller.
See CoStar COMPS #2504191 for more information.