Makaan Investment Group Acquires $33MM Property at Houston’s Energy Corridor

Admin
Feb 17, 2022
2 min read

Makaan further grows its footprint in the Texas Multifamily Market by acquiring Providence at Champions. In a $ 33MM-deal, the company locked in the 288-unit property conveniently located along Northwest Houston’s Energy Corridor.

“Around 91,000 people are employed by the Port of Houston and the more than 300 energy companies in the area. Providence at Champions is a thriving community that offers rich options for employment, entertainment, and education,” sharedMakaan CEO Madina Shaik.

Since closing in February 2022, Providence at Champion has delivered strong occupancy numbers. The team’s projections place the property’s IRR at around 23.64% with a 2.56x Equity Multiple and cash-on-cash returns at 10% on a holding period of 5 years.

Embrace the Abundance of the City

Providence at Champions captures the best of city living. It’s brimming with options for retail and entertainment, providing essentials to help a community thrive. Within minutes, residents can cross Highway 249, Sam Houston Tollway, and I-45 to watch a race or tournament, shuttle the kids to their choice of public or private schools, or start their work day. Whichever way they take, they are bound to enjoy.

What’s more, residents can come home to the comforts of the community. They can lay back and enjoy the property’s share of luxuries: a beautifully-designed pool, picnic area with barbecue, 24-hour fitness center, and the great company of fellow residents who gather for monthly events.

One resident shared in a review, “These apartments are beautiful and spacious inside. The leasing office team is also very nice and helpful. The location is awesome as well, close to a lot of good department stores.”

Providence at Champions offers the thrill of living close to the city’s pulse. For more information on this property, see the details below.