Price Realty Corp. has purchased The Wildwood Apartments, a 300-unit multifamily community in Richmond, Texas. Allen Harrison Co. sold the newly developed asset, while New York Life Insurance Co. provided a $36 million acquisition loan, according to Yardi Matrix data.
JLL Capital Markets brokered the transaction, representing the seller and securing the seven-year loan for the buyer.
Completed last year, the Class A property encompasses nine buildings, with one- and two-bedroom floorplans ranging between 740 and 1,263 square feet. Common-area amenities include a swimming pool, a fitness center, a clubhouse, a conservatory, dog parks, a library, controlled access and approximately 362 parking spaces. The units feature washers and dryers, stainless steel appliances, digital locks and patios or balconies.
The Wildwood Apartments is located at 24500 Wildwood Park Road, within the Veranda master-planned community, offering access to playgrounds, bike and hiking trails. The property is close to Interstate 69 and Route 90, which provide direct access to downtown Houston. OakBend Medical Center, UT Health, Brazos Town Center North and several dining options are within one mile from the community.
Managing Director Dustin Selzer led the JLL Capital Markets Investment Sales Advisory team, while the Debt Advisory team was led by Senior Managing Director John Brownlee.
Another JLL Capital Markets team has recently worked on behalf of Waypoint Residential in securing $30 million in construction financing for a 240-unit multifamily community in Charlotte, N.C.
