Triton North has announced the successful acquisition of Pines at Humble Park; a 170-unit apartment complex located in the growing submarket of Humble, Houston MSA, Texas.
The property is strategically located minutes away from the George Bush International Airport and the Memorial Hermann Northeast Hospital campus, and surrounded by plenty of retail businesses.
The acquisition is part of the group’s strategy to expand their footprint in the Houston MSA.
“This is Triton North’s second acquisition in Houston’s market. We remain confident in our plan to continue to responsibly acquire within the value-add multifamily sector, and the strength of our business model to generate above average risk adjusted returns”, stated Ricardo Ciliberto, Managing Partner, and head of the multifamily branch of Triton North. “The leasing market is experiencing a momentum, largely driven by robust household formation, product of both in-migration and population growth. Houston is expected to record the third largest influx of new residents among major U.S. metros this year. This is a key demographic for the rental segment, and the outlook is favorable for apartments”, he added.
About Triton North
TRITON NORTH is a private full-service real-estate investment and development firm, based in Miami, with focus on cash flowing multifamily assets, as well as ground up residential developments in highly demanded primary and secondary markets throughout Florida, Texas and the Southeast.
