Berkadia arranges sale of new Class A garden-style multifamily community in Houston, Texas

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Lenox Clear Lake
Berkadia arranged the sale of Lenox Clear Lake, a ­380-unit, Class A garden-style multifamily community in Houston, Texas.

Berkadia announces it has arranged the sale of Lenox Clear Lake, a ­380-unit, Class A garden-style multifamily community in Houston, Texas. Senior Managing Directors Todd Marix and Chris Curry, Managing Directors Jeffrey Skipworth, Chris Young and Joey Rippel and Director Kyle Whitney of Berkadia Houston marketed the property on behalf of the seller OHT Partners, a multifamily developer based in Austin, Texas. The Praedium Group, a real estate investor based in New York City, acquired the property.

“Lenox Clear Lake is in a popular supply-constrained suburb with limited Class A product. It offered a unique opportunity for investors to acquire a low-density asset in one of Houston’s few submarkets with true barriers to entry,” said Marix “The local area boasts strong housing demand drivers in a diversified and robust local economy.”

Located at 15500 Middlebrook Drive, Lenox Clear Lake offers one-, two- and three-bedroom apartments ranging from 574 square feet to 1,721 square feet. Individual units feature 9-foot ceilings, vinyl plank-style flooring, granite countertops, gourmet kitchen prep islands, whirlpool stainless steel appliances, kitchen pantries, walk-in closets, framed mirrors, dual vanities, square soaking bathtubs, linen closets, full-sized washer and dryers, and private patios or balconies. The gate-controlled community amenities include a modern clubhouse, gourmet latte and tea lounge, private workspaces, a fitness center, game room, two resort-style pools, poolside cabanas with flat screen TVs, an outdoor fireplace, two dog parks, private jogging trails, a children’s playground, car wash area, storage units, covered boat storage, attached and detached parking spaces.

Lenox Clear Lake is in walking distance to the Boeing Corporate Campus, and it is near NASA’s Johnson Space Center, the Port of Houston, the HCA Houston Healthcare, Baybrook Mall, the Bay Oaks Country Club and Kemah Boardwalk.