Boston, MA – (December 18, 2018) GID announced today that it has acquired Modera Shepherd, a 245 unit apartment community located in the Neartown – River Oaks neighborhood of Houston, Texas. Modera Shepherd is one of six assets acquired by GID as part of the nationwide Elite Apartment Portfolio transaction. The property benefits from close proximity to the Washington Avenue retail corridor, an avenue known for its abundant bars and restaurants. The property is also situated 0.4 miles north of Memorial Drive, which runs alongside the Buffalo Bayou and connects into Downtown Houston.
Built in 2018, Shepherd is a six-story podium built atop a three-level underground parking garage. The property features a swimming pool with tanning ledge, a grilling area, a covered outdoor game room, 24/7 fitness center, a clubhouse with catering kitchen, a rooftop lounge and a rooftop arcade. Units feature nine-foot ceilings, vinyl plank flooring, and quartz countertops. Select penthouse lofts offer balconies and patios.
Gary Kroll, Senior Vice President and Director of Central Region Acquisitions commented, “This acquisition provided GID an opportunity to acquire a high quality asset in a well-amenitized location with easy access to Downtown Houston, the Heights, and Memorial Park. We are pleased to add another asset into our expanding Houston portfolio.”