Brixton Capital has acquired Mason Park, a multifamily property in the growing area of Katy, Texas in the Greater Houston area from Hilltop Residential for an undisclosed price.
Located at 222 Mason Creek Drive, the 312-unit apartment complex was built in 2008 and comprises thirteen acres of land.
According to Brixton Capital’s Vice President of Acquisitions Jim Hamilton, “We are extremely excited to expand our growing portfolio of quality multifamily assets in the Houston MSA. The Katy area is seeing extraordinary growth in both population and jobs.”
Zach Springer Newmark represented Hilltop Residential in this transaction, while Brixton Capital represented itself.
David Schwarz of Newmark assisted Brixton Capital with the execution of the debt placement with a regional bank.
“Newmark has been a great relationship for us in Houston. Their team introduced us to this opportunity and provided outstanding execution of the purchase and the debt placement,” Hamilton continued.
Mason Park provides a Class A residential setting for residents with excellent access to the major job centers of Katy, the Energy Corridor and Northwest Houston. The Katy area is home to one of the top school systems in Texas and abundant lifestyle amenities.
“Mason Park is a great complement to our growing workforce housing portfolio,” said Mark Selman, president of Brixton Capital. “Mason Park is the latest addition to our strategic acquisitions in the Southwest U.S. In addition to Mason Park, we have added two other projects in Texas with over 400 units to our pipeline this month.”
United Apartment Group will manage the property on behalf of the ownership and assisted in the due diligence, including analysis of property operations and identifying property enhancements.
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 Solana Beach, California, Brixton is led by a team of seasoned real 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 $1.5 billion, representing over 10 million square feet of retail, multi-family, office and land investments across the United States and Europe.