{"id":6439,"date":"2019-10-04T22:45:00","date_gmt":"2019-10-04T17:45:00","guid":{"rendered":"http:\/\/umang.pk\/2019\/10\/houston-investor-plans-upgrades-for-vintage-apartments-near-bellaire\/"},"modified":"2019-10-04T22:45:00","modified_gmt":"2019-10-04T17:45:00","slug":"houston-investor-plans-upgrades-for-vintage-apartments-near-bellaire","status":"publish","type":"post","link":"https:\/\/umang.pk\/ur\/2019\/10\/04\/houston-investor-plans-upgrades-for-vintage-apartments-near-bellaire\/","title":{"rendered":"Houston investor plans upgrades for vintage apartments near Bellaire"},"content":{"rendered":"<div>\n        <!-- hearst\/article\/types\/story_body_r2.tpl --><\/p>\n<p><!-- gallery --><\/p>\n<div class=\"asset_gallery\" data-config-asset-position=\"1\" data-gid=\"gallery\"><!-- gallery float --><\/p>\n<p>                        <!-- hearst\/gallery\/main.tpl --><\/p>\n<div class=\"hst-resgallery-container non-grid static-frame\" data-id=\"article-gallery-14492732\" data-title=\"Houston investor plans upgrades for vintage apartments near Bellaire\" data-gallery-mode=\"standard\">\n<div class=\"hst-resgallery-wedge\">\n<ul class=\"hst-resgallery non-grid\">\n<li class=\"hst-resgalleryitem \" data-item-id=\"photo-18378068\" data-frame-index=\"0\">\n<div class=\"img-wrap landscape\">\n        \n    <\/div>\n<div class=\"caption \">\n        <!-- design\/gallery\/caption_redesign.tpl --><\/p>\n<p>Indus Management Group purchased Mark VI, a 144th generation apartment complex at 5606 Bissonnet. JLL marketed assets of AK Interests, the seller.<\/p>\n<p>Indus Management Group purchased Mark VI, a 144th generation apartment complex at 5606 Bissonnet. JLL marketed assets of AK Interests, the seller.<\/p>\n<p>    <!-- e design\/gallery\/caption_redesign.tpl --><\/p>\n<p>        <!-- design\/gallery\/caption_redesign.tpl --><br \/>\n                                                                <span class=\"credit\">                                                                                                                                                                                                                                                Photo: JLL<br \/>\n                                                    <\/span><\/p>\n<p>    <!-- e design\/gallery\/caption_redesign.tpl --><\/p><\/div>\n<\/li>\n<\/ul><\/div>\n<div class=\"hst-resgallerynav small hidden\">\n<div class=\"carousel\">\n<ul class=\"clearfix\">\n<li class=\"thumb selected\" data-frame-index=\"0\"><img decoding=\"async\" src=\"http:\/\/umang.pk\/wp-content\/uploads\/2019\/10\/1570216947_928_Houston-investor-plans-upgrades-for-vintage-apartments-near-Bellaire.jpg\" class=\"icon-thumb\" alt=\"Picture\" title=\"\"><\/li>\n<\/ul><\/div>\n<\/p><\/div>\n<div class=\"control-panel\">\n\t\t<span id=\"gallerySection\" data-gallery-section=\"\"\/><\/p>\n<div class=\"control-panel-inner\">\n<div class=\"caption\">\n<div class=\"caption-remote\">\n                                            <!-- design\/gallery\/caption_redesign.tpl --><\/p>\n<p>Indus Management Group purchased Mark VI, a 144th generation apartment complex at 5606 Bissonnet. JLL marketed assets of AK Interests, the seller.<\/p>\n<p>Indus Management Group purchased Mark VI, a 144th generation apartment complex at 5606 Bissonnet. JLL marketed assets of AK Interests, the seller.<\/p>\n<p>    <!-- e design\/gallery\/caption_redesign.tpl --><br \/>\n<!-- design\/gallery\/caption_redesign.tpl --><br \/>\n                                                                <span class=\"credit\">                                                                                                                                                                                                                                                Photo: JLL<br \/>\n                                                    <\/span><\/p>\n<p>    <!-- e design\/gallery\/caption_redesign.tpl --><\/p><\/div>\n<\/p><\/div>\n<p>            <!-- hearst\/ads\/medium_rectangle_ad_gallery.tpl --><\/p>\n<p><!-- e hearst\/ads\/medium_rectangle_ad_gallery.tpl -->\t\t<\/div>\n<\/p><\/div>\n<div class=\"gallery-overlay-outer gallery-overlay-outter lights-on hidden\">\n<div class=\"gallery-overlay-inner\">\n<div class=\"gallery-overlay-title-container\">\n<p>Houston investors plan to upgrade vintage apartment near Bellaire<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<p><!-- e hearst\/gallery\/main.tpl -->                                    <\/div>\n<p><!-- \/gallery float --><br \/>\n                                <!-- fixed --><\/p>\n<p>                        <!-- text --><\/p>\n<p>Houston-based Indus Management Group purchased an apartment complex in the 1970s from 5606 Bissonnet in the Bellaire sub-market.<\/p>\n<p>    <!-- text --><\/p>\n<p>According to the real estate broker JLL, Mark VI, a 144-generation complex on the west four acres of Chimney Rock, will be renovated and rebranded by new owners.<\/p>\n<p>    <!-- text --><\/p>\n<p>59{7be40b84a6a43fc4fae13304fce9a2695859798abfc41afd127b9f8b21c5f9c5} have not been renovated, 41{7be40b84a6a43fc4fae13304fce9a2695859798abfc41afd127b9f8b21c5f9c5} have been partially renovated, with an average of 887 square feet. The community is divided into Bellaire High School.<\/p>\n<p>    <!-- text --><\/p>\n<p>Manu Gupta, Director of Indus Management Group, said, \u201cWe are happy to uplift other communities in the area by introducing the atrium at 5606, formerly known as Mark VI Apartments. &quot;This will be the fourth argument in the submarket.&quot;<\/p>\n<p>    <!-- zone --><\/p>\n<p>                    <!-- text --><\/p>\n<p><strong>Related: Canadian Investor Enters Houston Apartment Market<\/strong><\/p>\n<p>    <!-- fixed --><\/p>\n<p>            <!-- fixed --><br \/>\n                                <!-- hearst\/ads\/duplicatable.tpl --><\/p>\n<p><!-- \/ hearst\/ads\/duplicatable.tpl -->            <!-- text --><\/p>\n<p>Amenities include a swimming pool, 6 landscaped courtyards, on-site laundry facilities and parking.<\/p>\n<p>    <!-- text --><\/p>\n<p>Joell Rippel, Chris Young, and Bailey Crowell of JLL have marketed and procured buyers of assets for AK Interests, the seller.<\/p>\n<p>    <!-- text --><\/p>\n<p>\u201cMark VI is a great acquisition of new capital to achieve value-added returns. &quot;This is a very well maintained 1970s vintage asset with a long runway for added value, which is supported by a rent gap of over $ 1,000 compared to the new construction of the submarket.&quot;<\/p>\n<p>    <!-- text --><\/p>\n<p><strong>Related: Listening: Understanding Opportunity Zones, Part 1<\/strong><\/p>\n<p>    <!-- text --><\/p>\n<p>This property is in a qualifying opportunity area. In other words, investors who make improvements may receive tax benefits as part of a federal program designed to promote economic development. The complex is a few blocks east of the neighborhood of Sharpstown and about 4 miles southwest of Galleria.<\/p>\n<p>    <!-- fixed --><\/p>\n<p>            <!-- text --><\/p>\n<p>Young said, \u201cEnough workforce communities benefit from positions within qualified opportunity areas, which are also classified as top local schools.\u201d &quot;The assets that check all these boxes are rare, and more and more individuals and institutional investors are looking for them.&quot;<\/p>\n<p>    <!-- text --><\/p>\n<p>Indus Management Group manages about 7,000 apartments in the Houston area.<\/p>\n<p><!-- e hearst\/article\/types\/story_body_r2.tpl -->    <\/div>\n<\/pre>\n<\/pre>\n","protected":false},"excerpt":{"rendered":"<p>Indus Management Group purchased Mark VI, a 144th generation apartment complex at 5606 Bissonnet. JLL marketed assets of AK Interests, the seller. Indus Management Group purchased Mark VI, a 144th generation apartment complex at 5606 Bissonnet. JLL marketed assets of AK Interests, the seller. Photo: JLL Indus Management Group purchased Mark VI, a 144th generation [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":6440,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[1],"tags":[],"class_list":["post-6439","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog"],"_links":{"self":[{"href":"https:\/\/umang.pk\/ur\/wp-json\/wp\/v2\/posts\/6439","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/umang.pk\/ur\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/umang.pk\/ur\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/umang.pk\/ur\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/umang.pk\/ur\/wp-json\/wp\/v2\/comments?post=6439"}],"version-history":[{"count":0,"href":"https:\/\/umang.pk\/ur\/wp-json\/wp\/v2\/posts\/6439\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/umang.pk\/ur\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/umang.pk\/ur\/wp-json\/wp\/v2\/media?parent=6439"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/umang.pk\/ur\/wp-json\/wp\/v2\/categories?post=6439"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/umang.pk\/ur\/wp-json\/wp\/v2\/tags?post=6439"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}