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Sorrento Offloads 324-Unit Houston Apartment Community
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Sorrento Property Group sold Holly View Apartments, a 324-unit garden-style community in northwest Houston, for $31.5 million. Holly View offers one- and two-bedroom floor plans, a resort-style pool, landscaped grounds and covered parking.

The buyer of the property at 5555 Holly View Drive was Accel Equity Group. The price works out to roughly $97,222 per unit. Matt Wideman of Newmark represented Sorrento Property Group, the seller.

Sorrento also recently sold Avani North, a 325-unit community in Tucson, Ariz., for $31.5 million, and two Florida communities, in Pembroke Pines and Pensacola, for a combined $30 million.

Sorrento Property Group operates garden-style communities in 13 states. The firm is expanding in Florida, where it is in contract to acquire $60 million of institutional-quality multifamily assets in Jacksonville, the state’s most populous city.

The post Sorrento Offloads 324-Unit Houston Apartment Community appeared first on Connect CRE.

Disclaimer:This article represents the opinion of the author only. It does not represent the opinion of Webull, nor should it be viewed as an indication that Webull either agrees with or confirms the truthfulness or accuracy of the information. It should not be considered as investment advice from Webull or anyone else, nor should it be used as the basis of any investment decision.
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