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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.
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Investment Sales and Mortgage Banking
kyle whitney
Senior Director (713) 724-1456 kyle.whitney@berkadia.com
TX CRE #658451
jed dalton
Senior Financial Analyst (832) 314-5078 jed.dalton@berkadia.com
TX CRE #787068
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
houston, tx office
2229 San Felipe, Ste 1600
Houston, TX 77019 (713) 974-1300 | Berkadia.com
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The Reserve at Kingwood is a best-in-class, turnkey multifamily asset available below replacement cost. Apartment homes in the low-density, garden-style community have been fully renovated and are primed for increased rental income under new ownership. It is enviably positioned in Kingwood, one of Houston’s most sought-after residential addresses and a robust-performing multifamily market with low threat of new supply on the horizon. Healthy cash flows are supported by favorable market fundamentals, affluent demographics, and strong locational attributes.
investment highlights
the location
the property
tucker fama
Financial Analyst (281) 923-3856 tucker.fama@berkadia.com
TX CRE #9002106
ESTEE IBÁÑEZ
Senior Financial Analyst (713) 469-4512 estee.ibanez@berkadia.com
TX CRE #687201
contact us
JOHNNY KING
Director
Mortgage Banking (713) 469-4502 johnny.king@berkadia.com
CUTT ABLESON
Senior Managing Director
Mortgage Banking (713) 469-4503 cutt.ableson@berkadia.com
938 Kingwood Drive, Kingwood, TX 77339
CARL RASMUSSEN
Associate Director
Mortgage Banking (713) 469-4514 carl.rasmussen@berkadia.com
investment summary
Corby chaffin
Managing Director
Mortgage Banking (713) 469-4516 corby.chaffin@berkadia.com
Price Terms Year Built Year Renovated Total Acreage Total Units Total SF Avg Unit SF Avg Rent/Unit Avg Rent/SF Leased | Occupied
the opportunity
Institutional-quality ownership in place since 2014 (10 years)
$7MM+ capital infusion from current ownership since 2019
All units have been renovated and brought to modern standards
Best in class amenities package with most community spaces updated in 2024
No concessions on new leases as of September 1st
80% retention rate for September renewals with 3% average increase
$325 rent gap with new construction in submarket
No properties in lease-up, under construction, or planned within three miles
3% to 4% average annual rent growth projected for 2025 to 2027 (CoStar, Yardi Matrix)
Asset and Market Support for Higher Rents
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Valuable visibility and frontage on Kingwood Drive and five minutes from Hwy 59/I69
First multifamily community visible when driving east on Kingwood Drive from Hwy 59/I69 and no other communities visible for nearly three miles
Only community of its compset zoned to Humble ISD (A Rated, #4 in Harris County) and Kingwood High School (A+ Rated, #1 in District)
Walking and biking distance from lifestyle retail, fast casual restaurants, and three large local employers
Five to ten minute commutes to Insperity HQ (1.8K jobs), HCA Houston Healthcare Kingwood (2.1K jobs), and Lone Star College Kingwood Campus (13K students, 1K jobs)
Less than 30 minute commutes to Bush IAH, Generation Park, North Houston District, CityPlace, Downtown Houston, Port of Houston, and The Woodlands
Key Demand Drivers for Value Appreciation
community amenities
apartment homes
Market All Cash or Assumption* 1999 2021-2024 14.604 312 273,768 877 $1,383 $1.58 94% | 91%
*4.00% fixed rate loan available with four years remaining. Loan information is available in the Document Center.
Leasing office with coffee bar*
24/7 fitness center with Peloton bike*
28-seat movie theatre*
Business center*
Resident lounge with billiards and community kitchen*
Year-round gift-wrapping station
Resort-style swimming pool
Poolside grilling stations*
Two large pet parks
Complimentary bicycles
Abundant mature trees throughout the community
24/7 Amazon package lockers
Covered parking available
Detached garages available
Storage units available * Amenities updated in 2024
COMMUNITY
All floorplans have been fully renovated
9’ ceilings with ceiling fans in living areas and bedrooms
Full-size washers and dryers
Designer stainless steel GE appliances
Slide-in top of the line GE electric ranges*
Undermount large basin sinks with goose-neck faucets
Built-in microwaves
White designer subway-tile backsplashes
Granite countertops and breakfast bars
Vinyl wood-style flooring
Built-in desks and work from home spaces
Woodburning fireplaces*
Large soaking tubs with tire surrounds
Large walk-in closets
Private patios and balconies * In select units
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