Investment lead: Patrick Magliaro | Patrick.magliaro@triadre.com
Harbour Point is located in the southeastern Houston suburb of Webster. Acquired in April 2024 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. Because the asset has a LURA component, the Sponsor secured 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 to capture future appreciation from large submarket economic growth driven by aerospace, medical, logistics, shipping, and retail industries.
