Westmount Realty Capital Announces Sale of Garden-Style Apartment Community near Galleria in Houston

HOUSTON, May 30, 2018 — Westmount Realty Capital, LLC, a Dallas-based real estate investment company, is pleased to announce the sale of Beverly Palms, a 362-unit Class “B” apartment community near the Galleria in Houston. Westmount acquired the property in October 2012 and undertook a $1M renovation to transform and upate the community.

“By updating the property’s exterior with a fresh coat of paint, adding architectural enhancements, upgrading the common areas and applying new finishes and fixtures inside the units, we were able to keep the property competitive with new developments in the neighborhood,” said Kevin Michels, Director – Investment Analysis for Westmount.

Beverly Palms offers one-, two- and three-bedroom floorplans that are spacious and affordable. The community also features two resort-style swimming pools, a new playground, business center, fitness center and on-site convenience store.

“The occupancy rate for Beverly Palms has remained well above the average of 89 percent for the Houston market,” said Clifford Booth, president and CEO of Westmount. “The multifamily market in Houston is very strong right now thanks to continued job growth and the stabilization in oil prices.”

Located approximately 1.5 miles from the Houston Galleria Mall, Beverly Palms is in one of the strongest performing economic metro areas in the nation. Its location is also one of the top five submarkets in Houston for highest average rental rate.

About Westmount Realty Capital
Westmount Realty Capital, LLC is a time-tested, privately held, Dallas-based commercial real estate company that has achieved exceptional performance, with a core team in place, for more than 30 years. Westmount is seen as an innovator and leading-edge company in the industry and is a relationship-driven trusted operating partner of numerous U.S. and foreign institutional and private capital sources. The company is active nationally, specializing in value add and opportunistic investments, and has navigated successfully through multiple market cycles. For additional information, contact www.westmountrc.com.

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For more information, contact:

Westmount Realty Capital, LLC:
Alice Kettle, Manager of Investor Relations
214-884 3702
akettle@westmountrc.com

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