American Landmark Acquires 282-Unit Houston Community
The Class A asset located in the South Main area is next to Interstate 610 and came online last year.
After recently acquiring a 300-unit garden-style community in Tampa’s Clair-Mel City submarket, American Landmark has purchased Haven at Lakes of 610 in Houston. The new Class A asset encompasses 282 units and was sold by a joint venture between Guefen Development and The Rainier Cos.
The new owner plans to spend $1.5 million in capital investments, which are set to include the addition of a dog-washing station, fire pits, package locker system, clubhouse and landscaping enhancements. The community will be renamed Aspire at 610.
Located at 8900 Lakes at 610 Drive, the property is 10 miles southwest of downtown Houston, in the city’s South Main area. The community is very close to Interstate 610, as well as several dining, retail and entertainment venues. Completed in 2018, the property features one- and two-bedroom units ranging from 747 to 1,447 square feet. Common-area amenities include a swimming pool, a clubhouse, a business center and covered parking.
“Houston led the nation in job growth in 2018, and is poised to do the same this year, so we are very confident in the long-term demand for workforce housing in the region, which has seen its economy diversify significantly,” said Christine DeFilippis, chief investment officer of American Landmark, in a prepared statement.
Image courtesy of American Landmark