BEAUMONT, Tx. (6/30/2017) – Orion Equity Partners LLC and other investors purchased Cypress Bend and Cypress Bend Village, two multifamily properties located in Beaumont, Texas in partnership with Metonic Real Estate Solutions and Seldin, Inc.
Beaumont has a population of 120,000 and is located 80 miles from Houston. Beaumont houses the fourth largest seaport by tonnage in the US. It processes more military equipment than any other port in the world. The federal government has approved a widening of the waterway to allow larger ships access. Beaumont also benefits from strong oil and gas investment. Exxon Mobil recently announced a $20 billion investment in chemicals and oil and gas processing. Investors also announced the Golden Pass project just outside Beaumont – this construction project will generate an estimated 45,000 direct and indirect jobs.
Cypress bend is a 192-unit building built in 2008. Cypress Bend Village is a 196‐unit building built in 2012. Both complexes have one and two bedroom floor plans and are located in the North Major Road area. This area has easy access to highways 105, 90 and I10 and also close proximity to shopping and dining.
Orion and Metonic plan to invest in exterior and interior renovations over the next two years. Exterior renovations include upgraded pool at Cypress Bend, adding a fitness center at Cypress Bend Village installing dog parks at Cypress Bend Village and creating tenant amenity space in the clubhouse at Cypress Bend. The planned interior upgrades include upgrading flooring in first floor units at Cypress Bend.