Jeronimo Hirschfeld, developer and CEO of Miami-based One Real Estate Investment, announced today the purchase of another multifamily property in Houston for $30 Million. The latest property, Avalon at RoyalOaks located at 2310 Crescent Park Drive, sits on 14 acres and features 41 buildings, including 436 units. Zach Springer,Executive Managing Directorat ARA Newmark, brokered the deal.
This past May, Hirschfeld purchased a 446 multifamily property in Houston for $20.3 million. In the last three months One Real Estate Investment has acquired more than 1,000 units in the Houston market, totaling about 4,000 units in the past two years and has plans to purchase another 3,000 units before the end of the year.
“We are pleased with this latest investment as it validates our commitment to the vibrant Houston market,” said Hirschfeld.
Stuart T. Kapp, a partner at Kapp Morrison LLP, also worked on the deal.
About One Real Estate Investment
Established in 2001, One Real Estate Investment is a privately owned, Miami-based real estate investment company that owns, manages and develops a growing portfolio of multi-family properties, single-family homes, residential high-end buildings, and commercial, and retail properties. With headquarters located on Brickell Avenue, the company embraces all aspects of real estate including acquisition, financing, property management, construction, repositioning, and disposition. One Real Estate has acquired a portfolio of more than 4,000multi-family residential units in Houston, Texas and in Miami-Dade County, Florida. The portfolio also includes several commercial buildings and a master-planned, seven-acre subdivision in North Florida that is scheduled to be the site of a major retail shopping center. In addition, in early 2015, the company purchased two vacant lots, comprised of 78,050 square feet, in the bustling Wynwood Arts District for $15 million. For more information, please visit www.onerealestateinvestment.
