Walker & Dunlop Completes the Sale of Richwood, Texas Apartments
Walker & Dunlop announced the sale of East Bank at Richwood Village, a 200-unit luxury apartment complex located in Richwood, Texas. This property is a unique investment opportunity in the rapidly growing Lake Jackson submarket, characterized by limited multifamily options. The transaction was managed by Ryan Epstein and Jennifer Ray, ensuring a favorable outcome for the seller, Pensam Capital, and the buyer's representative, BR Premier Properties. Positive demographic and employment trends in the area support the investment potential.
- Sale of a 200-unit luxury apartment complex in a fast-growing area.
- Positive demographic and employment trends boosting demand.
- Walker & Dunlop's strong positioning in multifamily property sales, with $19.3 billion in sales volume in 2021.
- None.
BETHESDA, Md., June 29, 2022 /PRNewswire/ -- Walker & Dunlop, Inc. announced today that it facilitated the sale of East Bank at Richwood Village, a 200-unit luxury apartment complex located in Richwood, Texas. The property represented a rare opportunity to invest in a high-quality asset within the greater Lake Jackson submarket, a fast-growing area with limited multifamily stock.
Ryan Epstein and Jennifer Ray led the Walker & Dunlop team in facilitating the disposition from the seller, Pensam Capital, LLC to the buyer's representative, BR Premier Properties. The team assisted the client throughout the entire transaction, ensuring a favorable sale price.
"Demographic and employment trends within the Lake Jackson area have been extremely positive over the past several months," said Managing Director, Ryan Epstein. "Occupancy and rent growth in the immediate area have both been increasing significantly, making East Bank an excellent investment opportunity."
With premium garden-style multifamily residences, East Bank at Richwood Village caters to the Alvin, Angleton, and Lake Jackson submarkets. The community's amenities include a cybercafé, fitness center, clubhouse, outdoor firepit, and dog park. In addition, Dow Chemical, the largest employer in the Lake Jackson area with nearly 4,000 employees, is located less than five miles west of East Bank at Richwood Village. The broader Brazoria County area also offers employment in many different industries, with oil, gas, and chemical companies at the top of the list of employers.
Walker & Dunlop is a leader in multifamily property sales, having completed
About Walker & Dunlop
Walker & Dunlop (NYSE: WD) is one of the largest providers of capital to the commercial real estate industry, enabling real estate owners and operators to bring their visions of communities — where Americans live, work, shop and play — to life. The power of our people, premier brand, and industry-leading technology makes us more insightful and valuable to our clients, providing an unmatched experience every step of the way. With more than 1,400 employees across every major U.S. market, Walker & Dunlop has consistently been named one of Fortune's Great Places to Work® and is committed to making the commercial real estate industry more inclusive and diverse while creating meaningful social, environmental, and economic change in our communities.
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SOURCE Walker & Dunlop, Inc.
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