Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A

Documents

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Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Attributes

Year Built 2015
Building Area
Land Area ()
Number of units 240

Property Description

Aria at Rollingbrook is a Class A, garden-style multi-housing in Baytown, 25 miles southeast of Downtown Houston. The low-density, 240-unit community is well-located within five minutes of Baytown’s two largest employers and one of its power retail intersections. Aria at Rollingbrook has excellent value-add potential with market support and is available below replacement cost on an all cash basis.

Investment Highlights

Value-Add Potential for New Ownership

  • Light interior updates are recommended
  • Only community in comp set without granite or quartz countertops
  • Add private yards for premiums and differentiate in market
  • Can repurpose or update amenities to improve competitiveness

Market Support for Rent Growth

  • Barriers-to-entry submarket with zoning restrictions 
  • Limited Class A competition and zero new supply underway
  • Comp set averages 12% higher rents
  • 5.5% average annual rent growth projected for 2022-2023 by Axio

Proximate to Baytown’s Largest Demand Drivers

  • Less than 1 mile to Houston Methodist Baytown Hospital (1.8K jobs)
  • Less than 2 miles to ExxonMobil (3.8K direct jobs + 3.2K contractors)
  • Port of Houston (67K jobs) anchors local economy
  • Port of Houston is #2 largest petrochemical complex in world
  • Petrochemical industry is less susceptible to oil price volatility
  • Planned local expansions and projects expected to add 1000s of jobs


Last Updated Date: 04 Mar 2021
Chris Curry
Senior Managing Director, Capital Markets
Todd Marix
Senior Managing Director, Capital Markets

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Last Updated Date: 04 Mar 2021

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