Venterra Sells 261-Unit Houston Community

The company sold the asset after eight years of ownership.

Bala Woods at Kingwood. Image courtesy of Venterra Realty

Venterra Realty has sold Bala Woods at Kingwood, a 261-unit community in the Kingwood area of Houston, after more than eight years of ownership. Cantor Fitzgerald bought the property, with Citibank providing a $27.5 million loan for the acquisition, according to Montgomery County records.

Spanning across 17.4 acres, the 2000-built community comprises 34 buildings and a mix of one-, two- and three-bedroom apartments, ranging from 780 to 1,406 square feet.

Following extensive upgrades, all units were equipped with smart technologies, new countertops in kitchens and bathrooms, washers and dryers and Kolay wood plank flooring. Common-area amenities include a dog park, a business center, a covered cabana, a fitness center, two swimming pools and a spa.

Located at 23200 Forest N. Drive, the community is less than half a mile from Interstate 69, connecting it to Houston. Numerous dining options are situated nearby, along with several retail options, such as Kroger Marketplace and H-E-B, which are within a mile of Bala Woods. Kingwood Medical Center – South Tower is also within one and a half miles of the community.

Venterra’s portfolio holds roughly 70 properties across 13 states. At the end of last year, the company sold Falcon Square at Independence, a 379-unit community in Winter Garden, Fla., for $116.8 million.

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