The Opportunity
Hollow Tree Park is an attractive 280-unit, two- and three-story garden-style community built in 2009 and renovated in 2019, delivering investors a best-in-class value-add opportunity with minimal upfront capital needs. The property has benefited from $1.5 million in recent improvements by current ownership, leaving little deferred maintenance and positioning new ownership to immediately focus on income-producing upgrades. Updated unit finishes are already achieving $111 rent premiums, validating a clear and proven upside in a popular rental submarket.
Strategically located in one of North Houston’s most dynamic growth corridors, the community offers convenient access to multiple employment centers driving long-term housing demand, including Bush Intercontinental Airport, City Place, and The Woodlands. Hollow Tree Park provides an attainable Class A alternative to communities in City Place and The Woodlands while still offering comparable location advantages. With zero new supply in the immediate submarket and strong rental demand trends, the property presents a compelling opportunity to execute a proven value-add program while benefiting from sustained market appreciation.

Investment SUmmary
- Price
- Terms
- Year Built | Renovated
- Total Acreage
- Total Units
- Total SF
- Avg Unit SF
- Avg Eff Rent/Unit
- Avg Eff Rent/SF
- Occupied
Investment Highlights
Cash-Flowing, Strong-Performing Asset
- $1.5M capital infusion from current ownership, including exterior paint, roof repairs and replacements, pool area updates, and interior upgrades in select units
- Modern vintage and best-in-class community with nine-foot ceilings, black appliance packages, and full-size washers and dryers in every unit
- Property has a 4.7 star average rating (out of 5 stars) on Google reviews with over 1,000 reviews recorded
- Averaged 63% retention since March this year
Revenue Growth Potential for New Ownership
- Can update 175 or 63% of units ($104 average projected premium)
- Can add stainless steel appliances to 99% of units
- Can add tech packages including smart locks and USB outlets to 100% of units
- Can add private yards to an estimated 78 units ($100 projected premium)
- Can implement bulk cable/internet contract
- Can add package lockers and implement a monthly amenity fee
- Can update and expand fitness center and playground to further set apart from competition
Market Support for Higher Rents
- Renovated units average $111 premiums on in-place rents on the current rent roll
- Renewals YTD have averaged 2.2% increases on new leases and 2.5% since July
- $489 rent gap with newest construction within three miles (MRI Apartment Data)
- No units in lease-up or under construction within three miles (MRI Apartment Data)
- Limited competition in Class A space in the submarket
- 2.7% average annual rent growth projected from 2026 to 2028 (RealPage)
- Rents in this submarket have increased 29% since 2014 (MRI Apartment Data)
Key Demand Drivers for Value Appreciation
- Convenient accessibility to I-45 (less than one mile) and centrally located between Grand Parkway and Sam Houston Tollway
- Less than one mile from a regional medical district, anchored by HCA Houston Healthcare Northwest ($69M expansion underway)
- 20-minute commute from first U.S. hub for advanced AI-hardware manufacturing with 2M square feet and thousands of new jobs planned by Apple, Foxconn, and Nvidia ($1B economic impact projected and scheduled to come online in 2026)
- 336K jobs within 10 miles, including Bush IAH ($3B expansion underway)
Five major employment districts, Willowbrook, IAH, North Houston District, City Place (ExxonMobil HQ), and The Woodlands, within 20-minute commutes - 2.2M square feet of retail within one mile, including Kroger-anchored center
The Location



The Property
Community Amenities
Community Amenities
- Leasing office and clubhouse
- Community kitchen and entertaining area
- Business center
- 24/7 fully equipped fitness center
- Swimming pool with water feature
- Covered poolside outdoor entertainment area
- Covered BBQ grills and picnic areas
- Enclosed bark park
- Shaded children’s playground
- Carports and detached garages available
- Storage units available
Unit Amenities
Unit Amenities
- Updated unit interiors in select units
- 9-foot ceilings
- Fireplaces in select units
- Built-in desks in select units
- Granite or resurfaced countertops
- Black or stainless steel appliance packages
- Tile backsplashes in select units
- Carpeted bedrooms
- Ceiling fans in bedrooms
- Full-size washers and dryers included
- Private patios or balconies
Contact Us
HOUSTON, TX OFFICE
2229 San Felipe, Ste 1600
Houston, TX 77019
713.974.1300 | Berkadia.com
Investment Sales & Mortgage Banking
JEFFREY SKIPWORTH
Managing Director
+1 214.533.3322
[email protected]
TX CRE #560404
CHRIS CURRY
Senior Managing Director
+1 713.553.0151
[email protected]
TX CRE #566750
CHRIS YOUNG
Managing Director
+1 972.743.5742
[email protected]
TX CRE #630674
JOEY RIPPEL
Managing Director
+1 601.919.5155
[email protected]
TX CRE #654288
KYLE WHITNEY
Senior Director
+1 713.724.1456
[email protected]
TX CRE #658451
JED DALTON
Associate Director
+1 832.314.5078
[email protected]
TX CRE #787068
ESTEE IBÁÑEZ
AVP – Financial Analysis
+1 713.469.4512
[email protected]
TX CRE #687201
CARL RASMUSSEN
Associate Director
Mortgage Banking
+1 713.469.4514
[email protected]
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