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Whispering Winds, 286-unit, 1985-built apartment complex in Pearland, Texas.
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Pearland, TX is ranked the #3 Best Place to Live in the U.S. It is a fast-growing, high-income suburb with strong retail access, excellent schools, and limited future residential supply. Pearland ISD is the #4 school district in the Houston metro area.With approximately 77% of the city already built out and most remaining land reserved for commercial or industrial use, barriers to new housing supply are high. The area posts a strong 7.67% annual population growth rate, high household incomes, a $440,000 median home price, and a favorable rent-versus-buy comparison ($1,350 rent vs. $3,215 ownership cost).
Due to strong relationships with the Berkadia Texas Investment Sales team, LSCRE is the only buyer thatsaw this truly off-market deal. LSCRE became the buyer of choice due to ~$225M+ in transactions withthe Berkadia Texas Investment Sales team.