Update: This property is no longer on the market. To view HFF's current real estate investment sales listings, please click here.
HFF, on behalf of the owner, is marketing for sale WaterWall Place, a flagship, LEED Silver, luxury multi-housing community recently developed by Hines, one of the world’s leading real estate organizations. This core, generational trophy asset is located at 2801 WaterWall Drive on one of the best urban spaces in Houston, an incomparable location with undeniable permanency.
No other multi-housing community in Houston offers more than 2.6 million square feet of Class A office space and 2.4 million square feet of retail amenities mere footsteps from the front door. Residents have an urban gem of a greenspace; the eponymously-named Gerald D. Hines Waterwall Park; the iconic Williams Tower, home of the Hines world headquarters; and The Galleria, an international shopping destination and the fourth largest shopping center in the nation, as their neighbors. WaterWall Place is unlike any other multi-housing asset in Houston; the apartment property for sale has a dynamic, 24/7 live-work-play location that cannot be duplicated. It is meticulously designed to capture and retain an affluent, renter-by-choice tenancy, deliver above market returns and sustained, long-term value appreciation.
Beyond its standing as one of the most walkable urban apartment communities in Houston, WaterWall Place further reflects the Hines commitment to quality and attention-to-detail, which is evident in both its structure and finishes. It’s seven-level, load bearing metal stud structure ensures enhanced sustainability, durability and structural performance. The steel and concrete construction, a rarity in Houston, also provides a sound barrier between city noises and residences. Thoughtful design elements abound throughout WaterWall Place including a façade clad in cast stone and rose-colored brick to complement the color palette of the adjacent Waterwall and a curved wall in the main lobby to mimic it on an intimate scale, as the tiles give a visual effect of water flow. Residents enjoy luxury at every turn, from complimentary car service and service runners to the opulent Sky Lounge, postcard views of the Houston skyline and the Gerald D. Hines Waterwall Park.
“WaterWall Place is a very special project for us,” said Gerald D. Hines, founder and chairman of Hines. “It was the anchor project for our new multifamily platform; so we worked hard to make it timeless and appealing to discerning renters. Its privileged location overlooking a city park and in proximity to the Galleria sets it apart as a singular investment in our hometown of Houston.”
“Our office is thrilled at the opportunity to work on such a special project and for a client like Hines,” said HFF Senior Managing Director Todd Marix. “The marketplace has not been offered an opportunity to acquire a property of the caliber of WaterWall Place in some time. We expect to see some strong interest from institutional capital that has been waiting for just the right opportunity. WaterWall Place meets or exceeds all the criteria for a true core, generational asset in quality and location.”
WaterWall Place is a core, luxury apartment community for sale in Houston’s affluent Galleria/Uptown district that benefits from its walkable, 24/7 live-work-play location. For more information on this commercial property for sale or other Houston-area properties, please contact Todd Marix, Matt Kafka or Chris Curry in HFF’s Houston office.