Disrupt Equity, a real estate syndication investment firm, announced the acquisition of Derby at Steeplechase apartments, a 260-unit Class A value-add apartment community located in Houston, TX. The property was purchased for $31,390,496 and marks the firm’s first acquisition in 2023.
Positioned right off Highway 290 and Sam Houston Tollway/Beltway 8, residents have easy access to major employment and entertainment hubs—including The Energy Corridor (107k jobs), Central Business District (168k jobs), Galleria/Uptown (83k jobs), North Houston Business District (70k jobs), Memorial District (50k jobs) and Westchase Business District (93k jobs) all within a 20-minute drive.
The property consists of 14 two-and three-story buildings recently built in 1992/93 and offers one-and two-bedroom unit apartments ranging from 606 square feet to 1,250 square feet.
“We are excited to expand our Houston footprint with this prime asset located in a great submarket,” said Feras Moussa, Managing Partner at Disrupt Equity. “Houston has continued to show strong job growth fueled by the energy sector and other industries ranging from healthcare to manufacturing, making it an attractive destination for renters.”
Derby at Steeplechase is a well-maintained asset with a clear pathway to implement value add initiatives to conservatively push rents by $200-$250 per unit/month—all while providing an exceptional living experience for residents as it is zoned to a #2 Rated School District in Harris County: Cypress-Fairbanks Independent School District Graded: “A” overall, “A+” in diversity, “A+” in sports, “A” in quality of teachers.
Derby at Steeplechase also offers residents a plethora of amenities. The property features controlled access gates, package lockers, a resort-style swimming pool, a resident clubroom, a business center, a fitness center, and covered reserved parking—all of which will be improved upon as Disrupt Equity launches its value-add strategy that includes cosmetic renovations throughout common areas such as painting and amenity additions including additional carports, tech packages, grill stations, and a dog park.
These enhancements will not only allow renters to enjoy an improved living experience but add additional value to the property to attract new tenants—ultimately helping to drive returns for the firm’s investors.
The Disrupt Equity firm is dedicated to creating a strong and vibrant community for its residents and strives to provide top-notch service and make each investment a successful one for its investors.