Trammell Crow (TCC) offloaded its interest in the 309-unit Parkside Residences in Houston. Daiwa House Group was the buyer. Multi-Housing News reports that the buyer self-funded the purchase with an $85.2 million loan.
TCC and Daiwa teamed up in 2019 to develop the project. Construction kicked off in 2020, backed by an $86.5 million note issued by Sumitomo Mitsui Bank. Ziegler Cooper Architects was the project’s architect, and Andres Construction as general contractor.
Located at 808 Crawford St., the 43-story tower is in downtown Houston, several blocks away from Discovery Green and Daikin Park.
Parkside Residences offers studio and one- to three-bedroom floor plans, as well as penthouse layouts averaging 1,203 square feet. Community amenities include a work-from-home center, a rooftop swimming pool and observation deck.
The post Trammell Crow, Daiwa Close on 309-Unit Houston Apartment Deal appeared first on Connect CRE.
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