Shore House Apartments sell for $82.65 million

The property was sold to three companies at a unit price of $240,274.


Shore House Apartments are on 34 acres at 401 Century 21 Drive.
Shore House Apartments are on 34 acres at 401 Century 21 Drive.
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Shore House Apartments sold Dec. 20 for $82.65 million.

S2 Matthews LP of Texas sold the property to Shorehouse TIC I LLC, Shorehouse TIC II LLC and Shorehouse TIC III LLC of Houston.

The 344 units are on 34 acres at 401 Century 21 Drive. They were built in 1973.

They sold at a unit price of $240,274.

The current taxable value is $33.29 million.

In 2017, Matthews Crossing II LLC of New York sold the property to S2 Matthews LP for $30.250 million. 

Shorehouse TIC I owns a 30.37% undivided interest, Shorehouse TIC II owns a 28.74% undivided interest and Shorehouse TIC III owns a 40.89% undivided interest.

Shore House Apartments rents studio, one-, two- and three-bedroom apartments from 478 to 1,168 square feet in size.

Amenities include Wi-Fi, pool and clubhouse, a business center, fitness facilities and playground. The property manager and maintenance is on-site.