Beckley is in the Rosslyn submarket of Northwest Houston, conveniently near the recently expanded U.S Route 290 as well as Beltway 8. This location offers easy access to Houston’s major employment centers. Beckley is zoned to the highly acclaimed Cypress-Fairbanks Independent School District, the #2 rated best school district in Harris County (Niche.com).
Beckley was originally marketed as part of a four-property portfolio that stalled as the market cooled late in 2022. Lone Star continued to track the deal, positioning us to move on the opportunity as pricing softened more recently. In addition, our previous transaction history with both this broker and the HFC program helped to reassure the seller and secure the deal.
Lone Star Capital is pleased to present The Houston HFC Portfolio comprising 666 units across three multifamily properties: Beckley (1999), Highland (1994), and Meritage (2008) with 210, 216, and 240 units respectively. All three assets will be placed in tax-exempt Housing Finance Corporations (“HFC”)in partnership with the Houston Housing Authority. This will exempt 100% of property tax, resulting in an outstanding risk-reward trade-off. NOI increases immediately due to the tax exemption with minimal operational risk.
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