Houston, TX, March 29, 2021 – NAI Partners is pleased to announce that it has been named the exclusive sales agent for new construction multifamily development Crown Apartments, located at 16844 Sugar Pine Drive in Northwest Houston.
NAI Partners’ Scott Lunine, Managing Director of the company’s Texas Investment Sales Division, and Kamil Patel, Associate, are the brokers marketing the apartment complex.
Crown Apartments is a Class B garden-style, 96-unit ground up multi-family development currently under construction with an expected delivery date of its Phase 1—which sits on sits on six acres with a gross building area of 118,000 sq. ft.—in May 2021 (Phase 1). Phase 2 is proposed for the remaining three acres on the side closer to FM 1960.
“Crown Apartments is a tremendous investment opportunity for an investor looking to own a brand-new multifamily development in the highly sought-after Northwest Houston submarket,” said Mr. Lunine. “The planned unit mix—many of which are already leased, ensuring in-place income from the get-go—is attractive for growing families as well as families with children.”
Located on a major road in a submarket that has historically experienced low vacancy and average rent growth, Crown Apartments represents a turnkey opportunity for investors looking to deploy capital in a strong market where numerous high-profile apartment projects are located, and as a brand new development, it will allow investors to maintain a high return without having to allocate any major CapEx improvements for many years. The complex is in close proximity to many of Houston’s major employers located near FM 1960, and also features quick access to I-45.
For more information, please contact Mr. Lunine or Mr. Patel at 713.629.0500.
About NAI Partners
NAI Partners is one of the top 5 largest privately held and independently owned commercial real estate services firms in the state of Texas. NAI Partners was founded and is headquartered in Houston and has offices in San Antonio and Austin; offers the geographic expertise to complete real estate transactions throughout the state; and can leverage the power of the NAI Global network to arrange deals in any location around the world. NAI Partners employs more than 150 real estate professionals, and arranges more transactions than any of its competitors, completing over 700 commercial lease and sale arrangements every year. NAI Partners is a full-service firm offering client leasing and sales solutions in the areas of Office Tenant Representation, Industrial Services, Retail Services, Office Project Leasing, Industrial Project Leasing, Retail Project Leasing, Property Services, Investment Sales, Valuation and Advisory Services, Project Services, Land Sales, and Life Sciences & Healthcare Services, among other lines of business. NAI Partners is the top Houston-based full-service commercial real estate firm on the Inc. 5000 list of fastest-growing private companies in America; the 5th-largest Houston-Area Commercial Real Estate Brokerage and #1 Mover of Square Feet among leasing and sales brokerages in Houston per the Houston Business Journal; the only commercial real estate firm on the Houston Business Journal’s Mid-Market 50 list; a top 12 largest San Antonio Commercial Real Estate Brokerage per the San Antonio Business Journal; and a top 20 Property Management Firm by square feet under management in Houston per the Houston Business Journal. NAI Partners has been named a Best Place to Work by the Houston Chronicle, Houston Business Journal and Austin Business Journal; and is among the University of Houston’s Cougar 100 Fastest-Growing Companies. Visit us on the web at www.naipartners.com.