Phoenician Apartments

Jones Lang LaSalle (“JLL”) has been exclusively retained to offer qualified investors the unique opportunity to purchase a fee-simple interest in Phoenician (The “Property” or The “Asset”), a 264-unit apartment community in the heart of Houston’s urban submarket, The Galleria, with direct access to the second largest employment district in the M.S.A.

Phoenician offers an exceptionally differentiated living experience, spacious floorplans, and ample community space to create a true community feel. The Galleria area accounts for 11% of the entire taxable retail sales for the city, and is a top destination for tourists, exceeding 26 million visitors annually. The Galleria is the 15th largest business district in the U.S., comparable in size to major CBDs such as those of Denver and Cleveland.

The Property is being offered at an attractive basis and a discount to replacement cost with value-add upside. Phoenician has been institutionally owned and maintained since 2006. Primed for new ownership, the Phoenician will benefit from the surging Houston economy, population growth, and strong submarket fundamentals.