THE OPPORTUNITY
Regency Park offers new ownership the opportunity to acquire a stable, cash-flowing asset with proven value-add in one of the nation’s fastest-growing housing markets. Cypress in Northwest Houston is ranked as one of the Top 10 most popular neighborhoods for home buyers in the U.S. (OpenDoor) and booming 9.4% population growth in the area over the past five years has been the catalyst for transformative retail and healthcare development – boosting demographics, creating tens of thousands of jobs, and generating substantial rental housing demand. Regency Park is available on an All Cash or Loan Assumption basis.
the property
Visit Doc Center
11300 Regency Green Dr | Cypress, TX 77429
1967
YEAR BUILT
The Opportunity
The Location
The Property
Contact
Doc Center
Privacy
Terms of Use
The Location
Michael Case
Financial Analyst
+1 (281) 224-7013
michael.case@berkadia.com
TUCKER FAMA
Financial Analyst
+1 (281) 923-3856
tucker.fama@berkadia.com
KYLE WHITNEY
Director
+1 (713) 724-1456
kyle.whitney@berkadia.com
JOEY RIPPEL
Managing Director
+1 (601) 919-5155
joey.rippel@berkadia.com
CHRIS young
Managing Director
+1 (972) 743-5742
chris.young@berkadia.com
JEFFREY SKIPWORTH
Managing Director
+1 (214) 533-3322
jeffrey.skipworth@berkadia.com
TODD MARIX
Senior Managing Director
+1 (713) 826-5979
todd.marix@berkadia.com
CHRIS CURRY
Senior Managing Director
+1 (713) 553-0151
chris.curry@berkadia.com
2229 San Felipe
Suite 1600
Houston, TX 77019
+1 (713) 974-1300
Berkadia.com
houston OFFICE
Investment Sales and Mortgage Banking
contact us
Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada.
© 2023 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by the Tax Credit Syndication group. For state licensing details for the above entities, visit www.berkadia.com/licensing.
investment summary
Price
Terms
Year Built
Total Acreage
Total Units
Total SF
Avg Unit SF
Avg Rent/Unit
Avg Rent/SF
leased | Occupied
Market
All Cash or Loan
1983
13.38
348
318,968
917
$1,077
$1.18
94% | 91%
Key Demand Drivers
for Value Appreciation
Three new hospital and MOB campuses
are underway
Learn More...
Market Support
for Higher Rents
Renovated competitors are averaging
$311 higher rents
Learn More...
Revenue Growth Potential
for New Ownership
White kitchen appliances in 148 classic units
(43% of unit mix)
Learn More...
Three levels of finishes currently at the property, but all units could benefit from upgrades to reach a consistent, modern standard
White kitchen appliances in 148 classic units
(43% of unit mix)
Add washer and dryers to 236 units with connections for monthly premium
Add private yards to select first floor units for monthly premium
Close
Close
Close
3.4% higher rents on last 30 leases
200 units (57% of unit mix) at the property with highest level of upgrades have yielded a $140 average premium
$311 rent gap with renovated competitors
$477 rent gap with Class A properties in submarket
118K jobs within 5-mile radius, including a recession-resistant and expanding regional health care hub
New hospital campuses underway in Cypress – Houston Methodist Cypress Hospital ($650 million) Cypress Health and Wellness ($500 million), Memorial Hermann Cypress Hospital ($72 million expansion)
$106K average household income within five miles
Home prices average $507K in Cypress and have increased
nearly 17% year-over-year
Walking distance to zoned schools in Cy-Fair ISD,
#1 school district for athletes in Houston metro
and #6 overall (Niche)
Walking distance to a popular 19.4-acre neighborhood park
investment highlights
210
total units
93%
occupied
CARL RASMUSSEN
Associate Director
Mortgage Banking
+1 (713) 469-4514
carl.rasmussen@berkadia.com
Community gallery
Resident Lounge & Clubhouse
Cyber Café w/ Wi-Fi
State-of-the-art Fitness Center
Refreshing Swimming Pool
Heated Spa
Courtyard Grilling Areas
Beautifully Landscaped
Package Lockers
Clothing Care Center
Covered Parking Available
community amenities
Updated Unit Interiors Available in Select Units
Towhomes Available
Open Concept Floor Plans
8-Foot and Vaulted Ceilings
Ceiling Fans
White, Black, or Stainless Steel Appliances
Breakfast Bars
Washer/Dryer Connections in Select Units
Washer/Dryers Included in Select Units
Private Patios or Balconies with Storage
apartment home amenities
apartment home gallery
Andy Hill
Managing Director
Mortgage Banking
+1 (512) 226-8705
andy.hill@berkadia.com