Greystar and Medistar Announce Plans for High-Rise Apartment Tower in Texas Medical Center

HOUSTON, Jan. 29, 2016 /PRNewswire/ -- Greystar and Medistar Corporation are pleased to announce that they have formed a joint venture to develop Ascent Med Center, a luxury apartment community located in Houston, Texas. The 35-story high-rise development will feature 375 apartment homes at the corner of Travis Street and Old Main Street in the Texas Medical Center (TMC).

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"Ascent Med Center was designed with a top-notch amenity package, high quality finishes and a variety of on-site conveniences," said David Reid, Senior Managing Director of Development for Greystar. "Our goal is create an environment that will enhance our residents' overall living experience."

Ascent Med Center will be professionally managed and developed by Greystar. The community will offer a variety of one and two-bedroom floor plans and three-bedroom penthouses ranging in size from 349 to 3,767 square feet of living space. The well-appointed interiors will include stainless steel appliances, modern cabinetry, quartz countertops with tile backsplashes and wood flooring in living areas. Apartment homes will feature nine to eleven foot ceilings, spacious walk-in closets and spa-like bathrooms.

Residents will enjoy a rooftop terrace that features an infinity pool, a spacious sun deck, lounge seating and spectacular 360 degree views. Premier concierge services will be available to assist residents with reservations, securing event tickets and completing errands such as picking up dry cleaning. Additional amenities will include a state-of-the art fitness center with cardio and strength equipment, an executive business center, bike storage, car charging stations and valet parking.

Kelly Lindig, Vice President – Development and Acquisitions for Medistar, added, "Greystar is the best development partner we could have chosen for this tower, as we were looking for complimentary uses for our luxury 357-key medical hotel project within the same block! This is simply the best site for new development having a true 'walk to work' opportunity available in the Texas Medical Center."

Hoar Construction will serve as general contractor for the project. Construction is expected to begin by March 31, 2016.

To learn more about Ascent Med Center, visit www.ascentmedcenter.com.

About

Greystar is a leading, fully integrated real estate company offering expertise in investment management, development, and property management of rental housing properties globally. Headquartered in Charleston, South Carolina with offices throughout the United States, Europe, and Latin America, Greystar is the largest operator of apartments in the United States, managing approximately 410,000 units in over 130 markets globally. Greystar also has a robust institutional investment management platform dedicated to managing capital on behalf of a global network of institutional investors with over $12 billion in gross assets under management including $3.9 billion of developments underway. Greystar was founded by Bob Faith in 1993 with the intent to become a provider of world class service in the rental housing real estate business. To learn more about Greystar, visit www.greystar.com

MedistarCorporation is a full-service real estate development company that specializes in the design, development, financing, acquisition and construction of medical office buildings, hospitals, and related facilities for the healthcare, biotech and pharmaceutical industries nationwide. For more than 40 years, Medistar has applied its expertise to many of the more technically advanced areas of healthcare, including the development and construction of digital hospitals, oncology centers, ambulatory care centers, multi-modality treatment centers, rehab hospitals and teaching hospitals. Medistar's experience also includes integrated medical buildings, which typically contain outpatient surgical, diagnostic and rehabilitation facilities, along with physicians' offices, in one efficient building. To learn more about Medistar Corporation, visit www.medistarcorp.com

Media Contacts:
Tricia Peters, Greystar, 602-522-1228 / [email protected]
Paul McCleary, Medistar, 713-266-8900 / [email protected]

SOURCE Medistar Corporation

Related Links

http://www.medistarcorp.com