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Updated unit interiors in select units
8-foot ceilings
Wood-style flooring in select units
Black appliance packages
Dark granite countertops
Tile backsplashes in select units
Ceiling fans in living areas and bedrooms
Full-size washers and dryers
Private patios or balconies
Above-market sized units with washers and dryers and covered parking for all residents
8% average increase on 44 renewals in the last three months
Two tiers of updates in units and 28 classic units with original finishes
All units can be upgraded to modern standards, including adding stainless appliances
$202 average higher rents at renovated rent comparables
Only ten other 1990s vintage assets in the submarket (12% of total supply) and six have been renovated since 2020
Next to the Texas Medical Center (TMC), the 8th largest business district in the US with 50M SF,120K jobs, and 50K medical students
Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada.
© 2024 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit www.berkadia.com/licensing.
contact us
johnny king
Director
Mortgage Banking (713) 469-4502 johnny.king@berkadia.com
kyle whitney
Director (713) 724-1456 kyle.whitney@berkadia.com
TX CRE #658451
jed dalton
Senior Financial Analyst (832) 314-5078 jed.dalton@berkadia.com
joey rippel
Managing Director (601) 919-5155 joey.rippel@berkadia.com
TX CRE #654288
chris young
Managing Director (972) 743-5742 chris.young@berkadia.com
TX CRE #630674
jeffrey skipworth
Managing Director (214) 533-3322 jeffrey.skipworth@berkadia.com
TX CRE #560404
chris curry
Senior Managing Director (713) 553-0151 chris.curry@berkadia.com
TX CRE #566750
investment sales and mortgage banking
houston, tx office
2229 San Felipe, Ste 1600
Houston, TX 77019 (713) 974-1300 | Berkadia.com
Visit
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7200 Almeda Rd | Houston, TX 77054
Price
Terms
Year Built
Total Acreage
Total Units
Total SF
Avg Unit SF
Avg Rent/Unit
Avg Rent/SF
Leased | Occupied
Market
All Cash
1990
7.33
224
202,980
906
$1,406
$1.56
94% | 88%
Helix at Med Center is a 1990s vintage, garden-style multifamily asset with proven value-add. It is well-located in the best job growth corridor in Houston’s urban core. More than 30,000 high-wage jobs in emerging life sciences, biotech, and healthcare related fields are projected to be created by the $3 billion+ in new development underway in the Texas Medical Center. There are an additional 100,000+ jobs on the board with future expansions planned. Housing demand will outpace new supply in this already densely populated submarket and create an outstanding opportunity for long-term, above-market performance.
THE OPPORTUNITY
investment highlights
investment summary
the location
the property
unit gallery and amenities
community gallery and amenities
unit amenities
community amenities
Leasing office with coffee and tea bar
Fitness center with dry sauna
Lounge and social areas
Resort-style swimming pool
Lush, tropical landscaping
Barbecue area with grilling station
Bark park
Covered parking for all residents
Perimeter fencing and controlled access
tucker fama
Financial Analyst (281) 923-3856 tucker.fama@berkadia.com
TX CRE #9002106
community
apartment homes
CUTT ABLESON
Senior Managing Director
Mortgage Banking (713) 469-4503 cutt.ableson@berkadia.com
Only two high-rises totaling 824 units are under construction in the TMC
Outstanding connectivity to all of Central Houston via the 610 Loop, Hwy 288, and METRORail Red Line
Convenient to area grocery stores, Hermann Park (445 acres), and NRG Park (350 acres), home of the NFL’s Houston Texans
Centrally positioned between two transformative, mixed-use developments, TMC Helix Park and Levit Green from Hines
Phase I completed for both projects in 2023
TMC BioPort (500 acres, 100K jobs) is in planning stages
