WALKER & DUNLOP COMPLETES SALE OF GARDEN-STYLE MULTIFAMILY COMMUNITY AT THE TEXAS MEDICAL CENTER
Walker & Dunlop, Inc. announced today that it completed the sale of The Co-Op at the Med Center, a 200-unit, garden-style property located in the heart of the Texas Medical Center in Houston, Texas. Originally built as a hotel, the asset was converted into a multifamily community in 2018 following a significant capital investment into the property.
Walker & Dunlop’s Scott Bray, Ryan Epstein, and Jennifer Ray represented the seller, Urban Genesis, in the transaction. The buyer, EAS Houston LLC, plans to capitalize on The Co-Op at the Med Center’s significant value-add potential with a number of upgrades, including interior unit renovations, upgrades to community amenities, and the addition of a technology package.
The Co-Op at the Med Center is one of the only garden-style multifamily properties in the immediate area, which is surrounded by newer construction, Class A communities. The property’s unparalleled location provides immediate access to the Texas Medical Center, one of Houston’s largest and most consistent employment bases, with over 106,000 employees and hosting 10 million patients. Residents of The Co-Op at the Med Center also enjoy convenient access to several grocery stores and are within minutes of Houston’sHermann Park.