Berkadia brokered the sale of 220 and 230 W. Alabama, two multifamily properties totaling 131 units in the heart of Midtown in the urban core of Houston, Texas.
The Berkadia Houston Investment Sales team was led by Senior Director Kyle Whitney and included Senior Managing Director Chris Curry, Managing Directors Jeffrey Skipworth, Chris Young, and Joey Rippel, and Associate Director Tucker Fama. The team represented the seller, an affiliate of Realty Center Management, Inc., a Culver City, California-based real estate company that, together with its affiliates, owns and operates roughly 10,000 apartment units across California, Texas, Louisiana, Nevada, and Colorado. The buyer was Fat Property, the Houston-based multifamily owner founded and operated by Cody Lutsch. Fat Property is one of Houston’s largest independent apartment buyers and the largest and most active within the 610 Loop, with more than 2,000 units, nearly all within the Loop (www.fatproperty.com). The sales prices were not disclosed.
Built in 1960 and 1965 respectively, 220 & 230 West Alabama consists of two multifamily communities offering studio, one-, and two-bedroom apartment homes. Community amenities include swimming pools, fitness centers, and pet-friendly living.
Both properties are located in the heart of Midtown Houston, one of the city’s most vibrant and walkable urban districts. The locations provide convenient access to Downtown Houston and nearby dining, shopping, and entertainment, making the communities attractive to a broad renter base seeking an urban lifestyle with connectivity to Houston’s major demand drivers.
