Houston-based Kajani Capital Group purchased 10.8 acres in Kingwood Place, an H-E-B-anchored center at the southwest corner of U.S. 59 and Northpark Drive, for a 300-unit apartment development in northeast Houston. Chris Bergmann Jr. of JLL represented the buyer. Joan Collum of Collum Commercial represented the seller, Austin-based Stratus Properties. Tenants in the 95-percent leased center include Starbucks, Twin Liquors, Chicken Salad Chick, Crust Pizza, Lupe Tortilla, Urgent Vet, Bubbly Paws, European Wax, Jersey Mikes, Nails of America and GoHealth Urgent Care, a division of Memorial Hermann. Kajani Capital also recently broke ground on 336 more multifamily units in Champions area.
“We are excited to continue growing our portfolio of multifamily properties in the Houston Metro area,” Khalid Kajani, principal at Kajani Capital, said in an announcement. “With several of the best retail anchor tenants, restaurants, and other amenities, this development will meet all the future tenant’s needs in one place.”