Asset Provides Opportunity for Value-Add Appreciation

Ravinia, a multifamily community in Spring, TX, near Houston, has been sold to Dallas-based investor ExCap. The property, located at 2400 Spring Rain Dr., offers the buyer opportunities to modernize the asset and escalate its value.

“Ravinia was a full team approach from all aspects,” says Brad Cooke with the Cooke Multifamily Team at Colliers in Arizona. “The nine senior-level multifamily brokers from Colliers in Phoenix, Houston and Atlanta collaborated to ensure the quality of the buyer pool allowed the seller to select a buyer that was of the highest caliber. Expedition Capital Advisors team has a stellar reputation and it was proven by the way they navigated the acquisition. The Hamilton Zanze team’s pride of ownership showed in the way the property was maintained and operated, giving ExCap the perfect canvas to execute their value-add strategy.”

ECP II Acquisitions (Expedition Capital Advisors) of Dallas purchased the property from SEF Ravinia LLC and HZ Ravinia, LLC (Hamilton Zanze & Company) of San Francisco. Brad Cooke, Chris Roach, Cindy Cooke and Matt Raoch of Colliers in Arizona worked with Teresa Lowery, Bob Heard, Todd Stewart and Chip Nash of Colliers in Houston and Ron Cameron of Colliers in Atlanta to handle the transaction.

Built in 2000, Ravinia was 95 percent leased at the time of the sale. The property features 232 apartment units in 13 buildings, offering spacious units with a garden-style layout. The 14.1-acre property offers desirable amenities such as a resort-style pool, parcel package locker, outdoor TV lounge, valet trash business/fitness centers, clubhouse and poolside cabana with wet bar.

Located near the Interstate 45 and Grand Parkway, Ravinia offers residents a short commute to multiple Fortune 500 headquarters, an abundance of upscale shopping, dining, parks and entertainment.

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