Gardens at Brun

GardensBrun2

Investment Rationale

  • Well located property in the desirable Montrose, providing residents with walkable distance to Houston’s River Oaks attractions.
  • Asset grossly under-leased with strong operational gains to be achieved through renovation and repositioning of asset and implementation of well-directed management and leasing plan.
  • Good unit mix with sound construction and a good intrinsic amenity list allowed for effective allocation of rehab funds.
  • Close proximity to sister properties located in the inner loop submarket allowed for economies of scale and more effective management.

Current Status

  • After stabilization and a hold period, The Gardens at Brun Apartments was sold in 2007, in a market rate transaction.