Pearl Woodlake_Property for Sale
Pearl Woodlake_Property for Sale
2021 S Gessner Rd, Houston, TX, 77063-1123, US

Pearl Woodlake

Asset Description

Jones Lang LaSalle (“JLL”) has been exclusively retained to offer qualified investors the unique opportunity to purchase a feesimple interest in Pearl Woodlake (The “Property” or The “Asset”), a 376-unit, 4-building wrap apartment complex in urban West Houston. Pearl Woodlake is located proximate to some of Houston’s most desirable neighborhoods and largest employment centers, including the Energy Corridor less than 10 minutes away. The Energy Corridor was the #1 office leasing submarket in the nation for 2023, attracting a large tenant base of employees to the surrounding areas. Pearl Woodlake benefits from being in an insulated future supply submarket, as no new properties are planned or under construction in the Woodlake/Westheimer submarket. This scarcity of supply ensures limited competition and presents investors with a promising outlook for rent growth, especially with the property’s strong recent performance and the notable increase in nearby home prices. By acquiring Pearl Woodlake, investors will gain a 376-unit urban core asset in an ideal location, all at a significant discount to replacement cost.

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Attributes

Number of units
376
Occupancy
93%
Year built
2016
Building area gross
32,696 m²
Land area gross
2.67 ha

Media

Investment Highlights

  • Limited Competing Supply Picture
  • Zero properties planned or under construction in the submarket
  • Proximate to Houston’s Biggest Employment Centers
  • 10 Minutes from Energy Corridor
  • Major Discount to Replacement Cost
  • Conveniently Located in Highly Accessible, High-Growth Urban Submarket
  • Strong Recent Property Level Performance
  • Elevated Nearby Home Values Driving Potential Rent Growth
Pearl Woodlake 4_Property for Sale
Pearl Woodlake 4_Property for Sale

Contact brokers

Pearl Woodlake (0 Properties)

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Last updated
4 Nov 2024