ST Real Estate Holding Inc. (STRE) announces the successful disposal of its remaining participation in Arbor on Richmond. STRE sold its stake above the latest property market valuation, realizing a significant Internal Rate of Return of over 18%. The transaction was finalized in recent months, with American Realty Investors LP (ARI) acquiring the asset.
Arbor on Richmond is a well-maintained, Grade B- multifamily property built in 1979. It features 304 units, state-of-the-art amenities, and a prime location in Houston, Texas, offering excellent connectivity to major employment centers and recreational areas.
“Arbor on Richmond has proven to be a valuable and resilient investment, successfully withstanding US market downturns. We are pleased to have found in our partner, ARI, a buyer who will continue to uphold the property’s standards and value. Our enduring partnership with ARI has been instrumental to our success,” said Patrick Lardi, Board Member and Vice Chairman of STRE.
“We are excited to continue the ownership of Arbor on Richmond, a property that has consistently demonstrated strong performance during multiple market cycles. STRE is a crucial partner in our success, and we look forward to further strengthening this partnership in the future,” added Kenneth L. Hatfield, Jr., Vice President of ARI.
The disposal of Arbor on Richmond aligns with STRE’s broader strategy to focus on high-growth markets and redeploy capital into new investment opportunities. This transaction represents a significant milestone for the newly established STRE Management USA, the US-based division of STRE.
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Contacts
Davor Ninkovic, Managing Director STRE Management USA | davor.ninkovic@strem.us
Kenneth L Hatfield, Jr., Vice President of ARI | info@arilp.com
