NAPA Ventures Nabs 2 Communities in Lake Jackson, TX

By Razvan Cimpean

Treasure Bay in Lake Jackson, Texas

Network Acquisition Partnership Alliance LLC, in partnership with a private equity group, acquired Treasure Bay and Oyster Creek—totaling 401 units—in Lake Jackson, Texas.

Treasure Bay, an 11-building, 200-unit community, is located at 415 Garland Drive and features one-, two- and three-bedroom apartments. Sizes range from 636 to 1,096 square feet. According to Yardi Matrix data, rents start at a monthly $624 and go up to $1,024, as of April. Amenities at Treasure Bay include two swimming pools, laundry facilities and full covered parking with 368 parking spots.

Oyster Creek in Lake Jackson, Texas

Located at 105 Any Way St., Oyster Creek features 201 units, consisting of one-, two- and three-bedroom apartments, with sizes ranging from 648 to 1,254 square feet. Rents at Oyster Creek start at $699 and go as high as $1,249 per month. The 14-building, two-story community offers a business center, tennis court, playground, two swimming pools and two laundry facilities, as well as more than 380 parking spaces.

NAPA Ventures plans to renovate both properties. Updates at Treasure Bay and Oyster Creek include a makeover of landscaping, pool decks and parking lots, as well as upgrades to countertops, cabinets and floors.

Last October, Network Acquisition Partnership Alliance also acquired Brandon Mill Apartments in Dallas and Ravenwood Apartments in Fort Worth.

Images courtesy of Yardi Matrix