August 28, 2020
29th Street Capital (29SC) acquired Greenhouse Apartments, a Class A+, 350-unit asset in the Katy/Cinco Ranch submarket. 29SC plans to add value to the three-year-old property by upgrading the landscaping, adding a package locker system and making technology improvements.
“Growth out west along I-10 has been robust over the past decade,” said Doug Burt, 29SC’s VP of acquisitions in Houston. “Greenhouse is a best-in-class asset that is strategically located right off I-10 to provide easy access for residents to get to nearby employment centers, shopping and restaurants.”
Greenhouse Apartments, located at 2040 Greenhouse Road, is approximately 23 miles west of downtown Houston. The property is located just west of the Energy Corridor.
“This is 29SC’s second acquisition in the Houston area in the past 12 months and will be a strong addition to 29SC’s existing Houston portfolio of 2,555 units,” Burt added. The price of the acquisition wasn’t disclosed.
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