KATY, TX – Venterra Realty acquired Elation at the Grandway West Apartments in Katy, Texas. Elation at Grandway West is a garden-style property with 324 apartments, completed in 2020. The Grand Parkway is on Franz Road, less than 1 mile from 99. It provides residents with easy access to I-10, the energy corridor and downtown Houston.
Elation's site is home to a diverse employment base with over 15,000 medical jobs and major medical facilities including Texas Children's Hospital, Houston Methodist West, M.D. Anderson Cancer Center and the Memorial Herman Katy Hospital.
The community offers six unique one- and two-bedroom apartments, ranging in size from 671 to 1,116 square feet and rents ranging from $ 1,040 to $ 1,516 per month. The interior of the Elation apartment features quartz countertops, stainless steel appliances, soft-close drawers, mirrors with halo lighting and smart door locks. The community offers a sturdy equipment package with three outdoor barbecue areas, two swimming pools, a dog park, pergolas with swings, a yoga and spin studio, fire pits and a bocce court.
"With this acquisition, Venterra has passed a new milestone – we now have over 18,000 units in our portfolio for the first time," said John Foresi, CEO of Venterra Realty. "Elation has been expertly engineered to a high standard, but we look forward to identifying opportunities for further improvement through the implementation of Venterra's customer-centric management platform," added Andrew Stewart, Chairman of Venterra Realty.
With a long history of success in the Houston market, Venterra was selected as the buyer for this off-market transaction brokered by Matt Philips and Clint Duncan of the CBRE Houston office. The loan was made by Michael Thompson, vice chairman and co-lead of CBRE's debt and structured finance team in Houston.
Source: Venterra Realty
