Brixton Capital has purchased the Regatta Bay, a 240-unit apartment community located at 2555 Repsdorph Road in Seabrook, Texas, immediately south of Houston, for an undisclosed price. The 2003-built property consists of 15 two- and three-story buildings. Amenities include a pool, dog park, tenant lounge and fitness center.
Brixton Capital purchased this property from Miami-based Lloyd Jones and Polaris Realty, who were represented by Matt Saunders of Newmark. Brixton represented itself in the transaction. United Apartment Group (UAG), a San Antonio-based property management firm acquired by Brixton in 2020, will manage the property.
“This is Brixton’s fourth acquisition over the last twelve months in Texas as we continue to execute our strategy of building a portfolio of quality multifamily residential housing,” said Brixton Capital President Mark Selman. “Regatta Bay exemplifies our approach to acquiring properties in high-growth, business-friendly markets across the Western US in markets where there is a tremendous unmet demand for quality rental housing. We expect this trend to continue for the foreseeable future and provide excellent investment opportunities for Brixton and our partners.”
Brixton plans to upgrade the property amenities and renovate the unit interiors, including new appliances, flooring, countertops and cabinetry, as well as updated lighting and plumbing fixtures. `
According to Brixton’s Vice President of Acquisitions Jim Hamilton, “Regatta Bay is located in the rapidly growing Clear Lake area of the Greater Houston Metropolitan Area and offers excellent access to major job centers such as the rapidly growing Port of Houston, NASA’s Johnson Space Center and multiple healthcare facilities. Over the next five years, the Houston region’s population is projected to grow by over 500,000 residents and jobs by 315,000. This economic expansion will lead to strong future demand for rental housing across the metropolitan area.”
About Brixton Capital
Brixton Capital is a preeminent private real estate investment firm that seeks to generate outstanding, risk-adjusted returns by unlocking embedded value in commercial real estate transactions spanning all property types. Headquartered in San Diego County’s Solana Beach, California, Brixton is led by a team of seasoned commercial real estate experts with an average of more than 25 years of experience. Brixton currently owns and operates a portfolio valued in excess of $1 billion, representing over 10 million square feet of retail, multi-family, office and land investments across the United States and Europe. For more information, visit www.brixtoncapital.com.