Disrupt Equity Announces the Acquisition of the Porterwood Apartment Community Located in Northeast Houston
Disrupt Equity, a multifamily real estate syndication firm headquartered in Houston Texas, has acquired the 136-unit multifamily property, Porterwood Apartments located in northeast Houston. The acquisition marks the firm’s sixth acquisition in the Texas market.
“The Disrupt Equity team is thrilled to not only further expand in the Houston MSA but more importantly, improve the community and offer an incredible opportunity to our investors,” says Ben Suttles, Managing Partner of Disrupt Equity.
Built in 1984, Porterwood Apartment consists of 136 one and two-bedroom units. Porterwood Apartments has been institutionally owned for the past 27 years resulting in a very well-maintained asset. Despite the pandemic, the asset holds a 93.4% occupancy to date.
“Porterwood apartments is a stable asset with a true value add component. We are looking forward to another successful multifamily investment!” states Feras Moussa, Managing Partner of Disrupt Equity.
The community is 25 minutes from downtown Houston and neighbors some of Houston’s largest suburbs. Since 2010, Houston has added nearly 1.1 million residents. From 2020 through 2029, Houston is projected to increase rental demand and tack on another 1,242,781 residents making Houston the second-highest number of new residents for any metro area.
Within a 2-mile radius of Porterwood Apartments, the average household annual income is $108,536, and the median home value stands high at $223,253.
Valley Ranch Town Center sits a 240-acre mixed-use development that boasts retail, dining, and entertainment options with 120,000 SF of proposed office space, a 16,000-seat amphitheater, and a planned Fitness Facility sits just 5 minutes from the property.
Major nearby economic drivers such as IAH airport the top-rated airport in the country employs over 190,000 individuals. Porterwood also lies 17 miles north of Generational park, one of the world’s largest privately-owned commercial developments, and 15 miles east from Springwoods Village, one of the fast-growing hubs in Houston including Hewlett Packard Enterprise (HPE) and ExxonMobil who have chosen to locate their headquarters to Spingwoods bringing thousands of new jobs to the area.
Media Contact
Company Name: Disrupt Equity
Contact Person: Media Relations
Email: Send Email
City: Houston
State: TX
Country: United States
Website: https://www.disruptequity.com/
