Visit Doc Center
The Opportunity
The Location
The Property
Contact
Doc Center
Privacy
Terms of Use
Tucker Knight
Senior Managing Director
Mortgage Banking
+1 (713) 469-4515
tucker.knight@berkadia.com
TUCKER FAMA
Financial Analyst
+1 (281) 923-3856
tucker.fama@berkadia.com
TODD MARIX
Senior Managing Director
+1 (713) 826-5979
todd.marix@berkadia.com
JEFFREY SKIPWORTH
Managing Director
+1 (214) 533-3322
jeffrey.skipworth@berkadia.com
KYLE WHITNEY
Director
+1 (713) 724-1456
kyle.whitney@berkadia.com
JOEY RIPPEL
Managing Director
+1 (601) 919-5155
joey.rippel@berkadia.com
CHRIS young
Managing Director
+1 (972) 743-5742
chris.young@berkadia.com
CHRIS CURRY
Senior Managing Director
+1 (713) 553-0151
chris.curry@berkadia.com
2229 San Felipe
Suite 1600
Houston, TX 77019
+1 (713) 974-1300
Berkadia.com
houston OFFICE
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.
© 2023 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 the Tax Credit Syndication group. For state licensing details for the above entities, visit www.berkadia.com/licensing.
Houston, TX Office
2229 San Felipe, Suite 1600
Houston, TX 77019
+1 (713) 974-1300 | Berkadia.com
Averaged 21 net leases per month and reached stabilization within 12 months of first move-ins
Investment Highlights
the opportunity
Impressive Lease-Up
First renewals from August to October signed at 3.6% higher rents
Higher Rents on Renewals
Average resident household income
is $125K
Proven High-Income Resident Appeal
Designed for best-in-class positioning with exclusive amenities like an indoor golf simulator and high-end custom interior finishes with 10’ ceilings
Built for Premium Rents
2.5 million square feet of retail within a half-mile, 10-minute walking distance, including Baybrook Mall, Target, and Life Time Fitness
Incomparable Walkability
One of Houston’s largest (1.5 million SF), most popular (18 million visitors annually) and most profitable malls (ranked #2 in sales per square foot)
Next Door to Baybrook Mall
#1 best fundamentals in Southeast Houston, #3 suburb in Houston metro, and #4 overall (MRI Apartment Data)
Market-Leading Submarket Performance
Class A units comprise less than 20% of the total supply in the submarket and only two new properties are under construction within three miles
Limited Class A Competition
Known as the “Aerospace Capital of the United States”, the “Medical Center of the South”, and “Retail Capital of Bay Area Houston”
Regional Economic Epicenter
$1B+ investments in new retail development, health care facility additions, and commercial space endeavors underway
Exciting New Job Growth
Zoned to A-rated schools in the #5 ranked school district in the Houston metro
Top Ranked Schools
the location
leased | occupied
95% | 91%
avg rent/sf
$1.97
avg rent/unit
$1,818
avg unit sf
921
total sf
268,119
total units
291
total acreage
8.67
year built
2022
terms
all cash
price
market
the property
community amenities
community amenities
community amenities
The Community
community amenities
community amenities
The Reserve at Baybrook is a newly built and stabilized, 291-unit mid-rise community with surface parking next to Baybrook Mall in Southeast Houston. The resort-inspired multifamily community is located in one of Houston’s healthiest and most economically diverse job markets with aerospace, engineering, health care, and petrochemical companies in expansion mode locally. Abundant employment is complimented by outstanding schools, strong demographics, high-quality lifestyle amenities, and limited Class A competition in the submarket. The Reserve at Baybrook is available All Cash and below replacement cost.
investment summary
19302 Glenwest Dr Friendswood, TX 77546
The Community
The Community
Apartment Home Features
Apartment Home Features
Modern clubhouse and clubroom
Resident library
Resident party room
with demo kitchen
Indoor golf simulator
State-of-the-art fitness center
Resort-style pool
with tanning ledge
Outdoor BBQ and lounge areas
Dog park and dog wash station
Package lockers
Storage units available
Carport and garages available
Community
One, two, and three bedroom floor plans
10-foot ceilings
Wood-style flooring
Stainless steel appliances
Granite countertops
42-inch wood cabinetry
Walk-in closets
with wood shelving
Double vanity sinks
in select units
Full-size washers and dryers
Private patios and balconies
Private yards in select units
Apartment Home
amenities
investment sales and mortgage banking
Jed Dalton
Financial Analyst
+1 (832) 314-5078
jed.dalton@berkadia.com
Surrounding municipalities have zoning restrictions, lack of utility capacity, and prohibitive multifamily development codes
Barriers-to-Entry