HOUSTON – Transwestern Investment Group (TIG) today announces it acquired a 1.4-acre land site on behalf of a joint venture between TIG’s core separate account and The Hanover Cos. for the development of a 208-unit multifamily project. Located within Houston’s Loop 610 in Rice Village, the project is surrounded by high-end retail and residential neighborhoods, approximately two blocks west of Rice University and less than two miles from the Texas Medical Center.
“The Rice Village area of Houston is a truly walkable location, which is highly sought after by residents, retailers and businesses,” said Collin Comer, managing director of acquisitions at TIG. “The project’s design with larger unit sizes and amenities will be highly desired by residents in the area.”
The site originally housed a 1960s apartment and retail building. The Hanover Cos., a high-end multifamily developer in Houston, has completed the site demolition and anticipates a construction commencement within the underwriting timeframe.
Transwestern Investment Group is an independent investment management affiliate of the Transwestern family of companies. TIG currently manages $600 million in institutional real estate investments on behalf of its discretionary and non-discretionary clients. TIG is a registered investment advisor.
ABOUT TRANSWESTERN INVESTMENT GROUP
Transwestern Investment Group is an investment advisor serving a broad range of investors through a diversified array of discretionary and non-discretionary investment vehicles. Our client-focused, relationship driven approach ensures our priorities are our clients' investment objectives. Trust, integrity and transparency are the cornerstones of our business. Transwestern Investment Group provides tactical investment management with an integrated operating platform through the Transwestern family of companies, which includes a diversified real estate services firm with 34 U.S. offices and a development company. For more information, please visit transwesterninvest.com.