Houston, TX Besen Partners has completed the sale of Trafalgar Apartments, a 142,395 s/f apartment complex located on Briarhurst Dr. between Westheimer Rd. and Fairdale Ln.
The Besen National Team secured an above-market offer on behalf of a pre-existing relationship with a New York-based buyer. This is the buyer’s first purchase in the state of Texas.
“In 2023, $12.7 billion of capital flowed from the NY/NJ/CT tri-state area into multifamily properties around the country. The Besen National Team has a pulse on this migration of capital on behalf of buyers looking to purchase in states that are more tax friendly with less rent regulation,” said Sam Finkler.
Finkler and his team represent CRE owner-operators of all asset types nationwide, emphasizing client relationships and building a competitive bidding process around each listing.
The property sale price translates to 5.66% cap rate. Finkler exclusively represented the buyer and seller in this transaction.
"Our platform is strategically positioned in our approach to national CRE brokerage,” said Finkler. “It allows our team to be based in New York, (near much of the capital being invested across the country), and service clients nationwide. With our data sources, we can target effectively to create exposure and execute on multiple levels.”
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