Harbour Point Apartments

Number of Units: 210
Year Built: 1984
Acquisition Date: April 2024

Harbour Point is located in the southeastern Houston suburb of Webster. Acquired at a highly attractive basis, Sentinel plans to execute moderate interior unit upgrades along with exterior enhancements such as LED lighting, landscaping, drainage improvements, and addressing deferred maintenance items.  

Sponsorship is forecasting moderate rental growth considering the current market trends, while focusing on operational efficiencies from management expertise and economies of scale. As the asset has a LURA component, Sponsor was able to secure higher financing proceeds at lower interest than comparable market-rate assets – further strengthening the proforma underwriting of the acquisition.   

Sitting on nearly 12 acres of land, Harbour Point is positioned well to capture future asset appreciation through high submarket economic growth from large investments in the aero-space, medical, logistics, shipping and retail industries.