Disrupt Equity has acquired Hollister Place, a 260-unit multifamily complex in the Brookhollow Northwest Crossing submarket of Houston. Hollister Place Apartments was purchased for $30,540,584 and marked Disrupt Equity’s seventh multifamily acquisition of 2022.
Hollister Place was built in 1997 and has units spread throughout 15 two- and three-story buildings. The Property includes one-, two-, and three-bedroom units that range from 860 to 1,315 square feet and offer large closets, built-in bookshelves, fireplaces in select units, and private patios. The community amenities include a pool, courtyard, outdoor barbecue area, fitness center, and a clubhouse with a business center for residents to enjoy.
Hollister Place Apartments has been a well-kept, stabilized property with an accessible path for Disrupt Equity to boost NOI through strategic value-add upgrades by renovating classic units (64), finishing out upgrading partially renovated units (96) to a premium level, and upgrading strategic amenities throughout the property, improving the rental value of units and keeping in-line with comparable assets in the submarket.
The apartment community also sits within an ideal location in Northwest Houston, less than a mile from the recently expanded U.S. Route 290 and four miles from Beltway 8/Sam Houston Tollway, providing residents convenient access to Houston’s top employers and numerous recreation centers.
As is the case with every acquisition, Disrupt Equity has contributed 25% of its asset management fee to go towards Disrupt Gives, its nonprofit organization focused on providing rental relief and financial education to struggling families across the nation.
