Lubert-Adler sold Tiburon, a 320-unit Class A apartment community in Houston, TX, to a private individual.
On behalf of several of its clients, Lubert-Adler acquired Tiburon in 2011 from its original developer, UDR, Inc., as part of a larger value-add multifamily investment strategy. From 2010 to 2013, Lubert-Adler acquired and subsequently repositioned a $2 billion portfolio of multifamily properties encompassing 52 separate investments. These properties are located in 19 states and total 21,696 units. All of the properties were acquired in joint venture with local operating partners. A significant number of them have been repositioned and sold.
Tiburon apartments' high-end, modern dècor features dark stained cabinets, black appliances, faux wood blinds, and crown molding. Community amenities include a clubhouse, business center, fitness center and swimming pool. For shopping, residents enjoy quick access to Willowbrook Mall and Willowbrook Plaza, with a combined 1.8 million SF of retail space.