About The Area
The Property is located in the Houston-The Woodlands-Sugar Land metropolitan area (the “Houston MSA”), which is the fifth largest metropolitan area in the nation and continues to experience strong population growth. From 2010 to 2020 the Houston MSA population increased from 5.9 million to 7.2 million individuals, which represents an annual growth rate of 2.0%. The annual population growth rate during this period was approximately 2.5 times greater than the national average.4 Additionally, the population is expected to grow to 7.9 million individuals by 2025, which represents an annual growth rate of 1.9%.
Houston is home to the nation’s tenth busiest airport, George Bush Intercontinental Airport, and the Port of Houston, which is the largest Gulf Coast container port handling nearly 70% of all of the US Gulf Coast container traffic. The port is ranked #1 in the US in terms of waterborne tonnage, imports, and total vessel transits.6 Once a predominantly oil and gas focused metro, Houston has developed into an economically diverse city with large footprints in industries from Aerospace and Aviation to Healthcare. The Houston MSA is home to more than 20 Fortune 500 company headquarters, which is the third most among U.S. metropolitan areas. The Houston MSA is currently home to over 500 aerospace firms and over 1,760 life sciences companies (320,500 jobs).7 Additionally, Houston is home to the largest medical center in the world, Texas Medical Center, which services over 10.0 million patients annually and has 106,000 employees.
The Property is located in the Spring Branch multifamily submarket. Located approximately 14 miles west of Downtown Houston, the Property is 0.5 miles from CityCentre, which is a 50-acre lifestyle development featuring 400,000 square feet of upscale retail, 625,000 square feet of Class A office space, fitness center and a 255-room hotel. The Property is within the Spring Branch Independent School District, which contains highly rated schools including Memorial High School (A+ overall Niche rating) and Stratford (A overall Niche rating). Many area residents are commuters, and the submarket’s access to major arteries, such as Interstate 10 and Beltway 8 offer convenient access to employment hubs across greater Houston.
Cantor Fitzgerald is an American financial services firm that was founded in 1945. It specializes in institutional equity, fixed income sales and trading, and serving the middle market with investment banking services, prime brokerage, and commercial real estate financing.