Brixton Capital, a real estate investment firm, recently acquired Richmond Towne Homes, a Houston apartment complex, for an undisclosed price. Sold by Duck Pond Realty Management of New York, the 187,000 square-foot property consists of 188 apartments on a 12-acre site. Located at 10777 Richmond Avenue, the project, built in 1994, at has 93 one-bedroom apartments and 95 two-bedroom apartments.
Richmond Towne Homes provides tenants a Class A, low-density community with direct entry attached garages. Residents enjoy close proximity to major employment centers such as the Energy Corridor, Westchase Business District, and the Memorial District, with four Fortune 500 companies within a five-mile radius.
“Brixton Capital is strategically committed to continuing to grow our presence in Texas. We are excited to be able to acquire a high-quality asset such as Richmond Towne Homes in a market like Houston that continues to see strong growth and economic resiliency,” said Jim Hamilton, Vice President of Acquisitions.
Zach Springer and Thomas Alleman of Newmark represented Duck Pond Realty Management. Brixton Capital represented itself. Scott Peterson and Brian Cruz of CBRE Capital Markets assisted Brixton Capital with the execution of the debt placement with Freddie Mac.
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