BHW Completes Sale of New Class “A” Multifamily Development – Park at Tour 18
Houston, TX – January 10, 2022 – BHW Capital, a boutique Houston-based multifamily developer, recently completed the sale of Park at Tour 18, a 241-unit Class “A” luxury apartment community developed in 2020 located in the Humble/Kingwood/Lake Houston submarket of northeast Houston. Dallas-based Civitas Capital Group acquired the asset at the end of 2021 for an undisclosed price.
The Park at Tour 18 is the third award-winning ground-up development completed by BHW Capital. The property received the 2021 Suburban Apartment of the Year award by REDnews and was named a finalist for 2020 New Development Mid-Rise Apartment of Year by the Houston Apartment Association. As the best-in-class asset strategically located within a high-growth corridor of Northeast Houston, Park at Tour 18 experienced a rapid lease-up to stabilization. “Combining the unique golf-course setting with luxury community amenities and a strategic location within the Humble/Atascocita area, Park at Tour 18 experienced a successful lease-up to stabilization despite the COVID-19 headwinds in 2020” said Bryan Tran, vice-president of BHW Capital.
Formed in 2012 by Martin Bronstein & Ralph Howard, BHW Capital focuses on multifamily development opportunities in suburban infill locations targeting underserved locations across major Texas markets. BHW Capital’s luxury class “A” multifamily developments are built to an institutional hold quality with active “hands on” asset management from the development team. BHW Capital is currently under construction on their fourth ground-up project, Park on Napoli, a 239-unit Class “A” multifamily development located in the Vintage Park submarket of Northwest Houston. “Park on Napoli represents BHW’s continuing evolution of luxury multifamily development” said Matthew Bronstein, vice president of BHW Capital. “As the work from home trend continues to grow, we focused on designing an apartment community with the amenities and unit finishes to meet the changing needs of today’s apartment renters.”
BHW Capital’s industry-leading partners have been instrumental throughout the development process since conceptualization to ensure a best-in-class community & experience for future residents. Park at Tour 18 was designed by leading Houston-based architecture firm, Mucasey and Associates. Construction was completed by Blazer, a regional multifamily general contractor. Construction financing was provided by Texas Capital Bank. “Our longstanding industry partnerships have been vital in the evolution & success of BHW Capital’s multifamily developments,” said BHW Capital’s founding co-principal Martin Bronstein.