Victory Park has sold its luxury rental property, The Vista, luxury rental community to institutional investors advised by JPMorgan Asset Management. The ground-floor retail space is not included in the deal.
The six-story, 129-unit complex at 2345 N. Houston St. was developed in 2006 and includes one- and two-bedroom apartment homes. Amenities at the property include underground parking, a rooftop infinity pool, and an athletic center. The complex is currently 98 percent leased. Future plans for The Vista include upgrading common areas and repurposing of units.
Holliday Fenoglio Fowler LP’s Senior Managing Director Bill Miller and Managing Director Roberto Casas marketed The Vista for sale. Gary Ross represented J.P. Morgan its purchase.
In May, Victory Park’s owners announced a partnership with Trademark Property Co. to reposition its retail holdings in the southern district of Victory Park. As part of the plan, Trademark will develop and implement a merchandising and leasing strategy for the ground floor retail space and undeveloped land along Victory Park Lane, and ground-floor retail space in The Cirque and One Victory Park.
“Victory Park’s recently-announced retail partnership with Trademark and our strong residential leasing figures made The Vista an attractive purchase for J.P. Morgan,” said Lance Fair, COO of Estein & Associates and vice president of Victory Park, in a statement.
Victory Park currently offers 130,000 square feet of restaurants and entertainment venues, including Hard Rock Café, Havana Social Club, House of Blues, Kenichi, Luna de Noche, Medina, Naga Thai, Neo Pizza, The Fan Sports Lounge, Shooters, Victory Tavern, and Cook Hall gastropub and bar, which will open later this year. The Chad Rookstool Salon and The Office of Angela Scott also are slated to open this year.