Three Pillars Capital Group has acquired Chateaux Dijon, a 426-unit multifamily community located in Houston’s Galleria area. InvestRes was the seller, which picked up the property in 2018 and secured a $34 million loan from City Bank to facilitate the deal. Yardi Matrix data confirms this information.
The 9-acre site is home to 17 two-story buildings with one-, two-, three- and four unit floorplans ranging from 510 square feet to 2,200 square feet. Built in 1961, Multi Housing News reports that Three Pillars plans on implementing extensive renovations upon acquisition of Chateaux Dijon.
Situated roughly 10 miles west of downtown Houston at 5331 Beverly Hill St., residents are conveniently close to interstates 69 and 610 as well as numerous retail stores and dining options within walking distance of the property – including Galleria shopping mall .
