Houston’s Holly Hall Apartments have sold for $58 million, about $102,000 per unit., Rebusiness Online reported.

The seller was Harbert Management Corp FEICA/Holly Hall LLC and the buyer was GDF Properties of Miami, the story said.

The complex is located on 18.5-acre site near NRG Stadium and Texas Medical Center, Rebusiness Online reported. Seth Denison of Lee & Associates arranged acquisition financing, the story said.

The apartment units range from 598 to 1,354 square feet and are furnished with custom cabinetry, granite countertops and individual washers and dryers, Rebusiness reported. Amenities include a pool, fitness center, spa, picnic area, pet play area and a courtyard.

The demand for property is hot right now in South Florida, Denis told CityBiz.

"We are seeing a rush to buy property right now, especially in the South Florida market, which has seen an onset of major firms and basic  employment arriving over the past 18 months,” he said. "We’ve never been busier." 

He expects the market to remain strong in 2022.

"It’s somewhat of a perfect storm with the combination of looming tax changes, pent up demand from last year and inflationary pressure emboldened by the low interest rate and capital rich environment," he said. "The continued deterioration of South America and other major international markets has simply added to a flight to quality in U.S.-backed assets."