Class A+ High-Rise Multifamily Investment Opportunity in Houston, Texas

7 Riverway is one of Houston’s original high-rises, setting the standard for the product in modern era in the Houston metro. The 21-story ultra-luxe, boutique community features hotel-like amenities and original finishes in generously sized units that average 1,521 square feet. It has a signature address in a mixed-use, park-like setting in the Galleria/Uptown District, which has the smallest pipeline in Houston’s urban core and the least amount of developable land. ​

Financials and property tours are available now. ​ A full offering memorandum is forthcoming. ​

Investment Summary
Price
Market
Terms
All Cash
Year Built
2005
Total Acreage
2.02
Total Units
175
Total SF
266,183
Avg Unit SF
1,521
Avg Eff Rent/Unit
$3,225
Avg Eff Rent/SF
$2.13
Leased | Occupied
94% | 93%
Investment Highlights

Institutional Ownership
7 Riverway has been institutionally owned and exceptionally well-maintained since its development.

Value-Add Potential
Value-add returns are credible with interior updates to reflect modern multifamily trends.

Compelling Rent Gaps
$523/unit and $0.74/sf rent gap with newest and closest high-rises.

Strategic Design
Thoughtfully designed and positioned to capture premium, high-income renters-by-choice demographics.

Irreplaceable Site
Incomparable location in a mixed-use environment with 4 office buildings within walking distance totaling 1.3MM SF office space and housing 3K employees.

Rare Urban Park Access
Walking/running distance to the hike and bike trails of Memorial Park, one of the largest urban greenspaces in the U.S. with 1,500 acres.

Expensive Housing Market

Located in the #2 most expensive zip code in the Houston metro with average for-sale pricing of $1.7MM.

Condo Conversion Potential
New ownership could explore condominium conversion due to quality of product, exclusivity of niche, residential location, small number of total units, and large unit sizes.

Limited Competition
High-rises comprise only 8% of existing multifamily supply within 3 miles.

Minimal New Supply
Only 1 property under construction in the submarket with no additional units scheduled.

Texas Medical Center Proximity

Within 15 minutes of the world's largest medical center with 50MM SF developed, 106K employees, 60K students and $3B in construction projects underway.

Houston Market
Houston is currently ranked #3 in U.S. for multifamily demand with 33,451 units absorbed during the past 12 months. The metro is exhibiting 10.6% T12 rent growth and has a declining new supply pipeline.

Property Gallery

Investment Sales and Mortgage Banking

CHRIS CURRY
Senior Managing Director
+1 (713) 553-0151
chris.curry@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

CHRIS YOUNG
Managing Director
+1 (972) 743-5742
chris.young@berkadia.com

JOEY RIPPEL
Managing Director
+1 (601) 919-5155
joey.rippel@berkadia.com

kyle whitney
Director
+1 (713) 724-1456
kyle.whitney@berkadia.com

ESTEE IBÁÑEZ
Senior Financial Analyst
+1 ​ (713) 469-4512
estee.ibanez@berkadia.com

tucker s. knight
Senior Managing Director,
Mortgage Banking
+1 (713) 469-4515
tucker.knight@berkadia.com

7 Riverway, Houston, TX 77056

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