The adjacent Quinn North at Westchase is also for sale on the same property
HOUSTON, TX – September 18, 2022 – Casoro Group (“Casoro”), a leading vertically integrated multifamily real estate investment firm based in Austin, Texas, today announced the sale of The Quinn South at Westchase, a multifamily complex. The Quinn South is a 368-unit, 298,476-square-foot property located on 2201 Hayes Road that Casoro acquired in 2018. Terms of the transaction were not disclosed.
“We are pleased by the successful sale of The Quinn South and look forward to the role it will play in fulfilling multifamily demand in the expanding Houston area,” said Chi Hathiramani, Chief Investment Officer at Casoro. “As much of The Quinn’s revitalization took place in the early stages of the COVID-19 pandemic, we applaud our property manager, CLEAR Property Management, along with the entire Casoro team for a stellar job in executing the business plan despite ever-changing conditions.”
Casoro strategically acquired the property in response to Houston’s rapid growth, becoming the fourth most populous city in the U.S., the largest city in Texas, and one of the largest multifamily hubs in the state with around 636,933 apartment units in total. With expanding infrastructure in core industries such as energy, manufacturing, healthcare and biomedical research, paired with over 40 colleges and universities, Houston has quickly become an attractive Southwest market with high demand for multifamily properties.
Casoro implemented a variety of value-add improvements at The Quinn South, from exterior upgrades to the redesigning of common areas, including the community clubhouse and fitness center. Additionally, the firm introduced a number of premium upgraded apartments to match the elevated standard of living in the newly developed areas of the Westchase district, while also keeping a portion of traditional and semi-upgraded units to offer tenants a range of attractive price points and maintain affordability.
Located on the same property, Casoro also currently owns and manages The Quinn North at Westchase, a 276,040-square-foot and 368-unit apartment property that has been revitalized with a similar value-add approach. With its strategic position in a growing Houston neighborhood and recently upgraded units and amenities, the firm is seeking buyers for The Quinn North. Interested purchasers can contact the Northmarq investment sales team as follows:
Scott Lamontagne
Managing Director, Investment Sales
slamontagne@northmarq.com
About Casoro Group
Casoro Group is a 100% minority-owned, award-winning vertically integrated multifamily real estate investment firm. Our commitment is to provide Better Homes for Better Lives®. By taking a resident-focused approach to our multifamily communities, we improve the quality of life for our residents and increase the social impact of returns for investors. Championing the advancement of diversity, Casoro is also a Diversity in Action Signatory with The Institutional Limited Partners Association (ILPA); in addition to our work with ILPA, we have made our own strides in DEI and wealth inequality among minority youth and young adults with the launch of the Onyx Impact Fund and the Casoro Group Education Foundation in 2021, which work together to advance diversity in the commercial real estate industry. Our talented investment team has more than 100 years of combined experience in multifamily real estate acquisitions, ground-up development, and asset management. Our deep expertise in the areas that matter most to investors means we add value and capture the upside. To learn more please visit https://casorogroup.com/.