Glenbrook East

Glenbrook East2

Investment Rationale

  • Located in the established SE Houston submarket, and near to Hobby Airport, the Houston Ship Channel and surrounding areas as well as schools, transportation lines and shopping.
  • Property purchased at a discount due to operational inefficiencies that could be quantified and improved through application of effective operational and rehab plan.
  • Good unit mix with sound construction and a good intrinsic amenity list allowed for effective allocation of rehab funds.
  • Asset-specific conditions allowed for placement of financing with very desirable terms.
  • Acquisition allowed for creation of economies of scale to improve operations of all SI sister assets located in same market area.

Current Status

  • After stabilization and a hold period, Glenbrook East Apartments was sold in 2005, in a market rate transaction.