Eastham Capital and Mosaic Residential Sell 200-Unit Eagle Crest Apartments in Humble, Texas

Eastham Capital and joint venture partner Mosaic Residential have closed the disposition of Eagle Crest Apartments, a 200-unit multifamily community located at 5303 Atascocita Road in Humble, Texas, a suburb of Houston. The sale price was not disclosed.

Transaction Background

Eagle Crest Apartments was originally acquired in 2017 through Eastham Capital Fund V, LP, as a joint venture between Mosaic Residential and Eastham Capital. At the time of acquisition, the investment was identified as a value-add opportunity in a market benefiting from regional employment drivers, proximity to major transportation corridors, and continued population growth across the greater Houston area.

The property features a mix of garden-style one- and two-bedroom units ranging from 656 to 1,054 square feet. Community amenities include a resort-style pool, fitness center, and clubhouse. The community is situated near George Bush Intercontinental Airport and Deerbrook Mall.

Performance at Disposition

At the time of the sale, Eagle Crest Apartments was approximately 95% occupied. In-place rents had increased from $936 per month at the time of acquisition to $1,228 per month.

About the Firms

Eastham Capital is a private equity real estate firm with a focus on multifamily investments. Mosaic Residential served as the operating partner in the Eagle Crest joint venture. Neither firm disclosed the identity of the buyer or additional financial terms of the transaction.

Sources:
Eastham Capital — Official Announcement