Broadstone Briar Forest, a 342-unit, class B multifamily value-add investment opportunity in West Houston, Texas.

Key Points:

  • Deal Story: Lone Star first saw Broadstone in Fall 2021 in a closely shopped process that did not result in a transaction. Through “hanging around the hoop” and our strong local relationships, we were able to secure the deal off-market at a 4.4% cap rate, avoiding full marketing and a costly bidding war.
  • Location: The property sits in a highly desirable residential area, just around the corner from Ray Daily Elementary School and across the street from the Village School, a $33k /yr IB boarding school ranked #2 in Texas by Niche.com.
  • Business Plan: The previous owner, a local operator, has maintained the property to a high standard and renovated half of the units; Lone Star is completing unit renovations on the other half the units for rent increases matching existing premiums and implement amenity and operational improvements to build resident appeal.

Get Access to Our Investment Opportunities

Contact Us
Are you an accredited investor?