June 17, 2019 | News
HQ Capital closes on 339-unit multifamily development in Houston, TX
New York, NY, 17 June 2019. HQ Capital, a leading independent manager of alternative investments, announces its joint venture with Alliance Residential to develop Broadstone Woodmill Creek Flats, a 339-unit apartment project situated within The Woodlands, a 28,000-acre award-winning master-planned community located approximately 30 miles north of downtown Houston, TX. The project, being led by Alliance’s South Texas team, is positioned near two of North Houston’s largest employment hubs as well as high-end shopping and restaurants.
“The Houston economy is one of the largest and historically one of the strongest in the U.S.,” said Kristi Nootens, Vice President – Real Estate Investments at HQ Capital. “As part of The Woodlands, the project will offer access to one of the few truly live/work/play environments outside of Downtown Houston. This is our third investment with Alliance, and we’re looking forward to working with their team again.”
The project will be comprised of one four-story building with surface-parking and will feature Class-A unit interior finishes such as stainless-steel appliances and stone-surface countertops. Community amenities will include a two-story resident lounge, a large, open fitness center, a resort-style swimming pool, elevators, and fully enclosed, air-conditioned corridors. The project continues HQ Capital’s longstanding strategy of making opportunistic investments in high-growth markets throughout the U.S.
HQ Capital previously partnered with Alliance Residential on Broadstone Passerelle (392 units) in Orlando, FL, which was sold in December 2017, and on Broadstone Southside (179 units) in Fort Worth, TX, which closed in December 2018.