|
|
9/26/13
|
OC-based MIG Real Estate recently acquired Pine Creek Ranch, a 240-unit apartment home community in the Houston metro. Situated on 12 acres of land at 3600 College Park Drive in The Woodlands, Pine Creek Ranch is in one of the most affluent neighborhoods in Texas and the #3 best-selling master-planned community in the US according to ARA Real Estate Investment Services. The community is just two miles from Panther Creek where home prices exceed $1 mil.
The multifamily community features one-, two-, and three-bedroom floor plans with oversized closets and bedrooms, full-size washers and dryers, fully equipped kitchens, and private patios, balconies or sunrooms for each unit. Additional community amenities include a Wi-Fi equipped clubhouse, swimming pool with beach entry, air-conditioned basketball half-court, fitness center, barbeque area, billiards room, theater and business center. Pine Creek Ranch residents also enjoy remote access gated entry along with covered parking and garage options.
Residents are a short walking distance to neighborhood retail outlets including Starbucks and Chase Bank, and less than five miles from Cynthia Woods Mitchell Pavilion, the upscale Market Street, and regional retail centers such as Pinecroft Center and The Woodlands Mall.
“Pine Creek Ranch offers an outstanding opportunity for upside potential with its attractive amenities package and its location near expanding job centers and medical campuses in north Houston” said Greg Merage, Chief Executive Officer of MIG Real Estate. Merage also cited Houston’s optimistic outlook, recently being named by Forbes as “America’s next great global city.”
David Oelfke of ARA Real Estate Investment Services represented the seller in the transaction. MIG Real Estate represented itself. Greystar, a national operator with a significant presence in the Houston market, will manage the property for MIG. The price was not disclosed.
Pine Creek Ranch represents MIG Real Estate’s third investment in Texas multifamily properties, following its investment in The Cottages in Austin in 2012 and Wynhaven at Willowbrook in Houston in 2012.
|
|
 Return to the Archive page
|
|
|
|
|
Printer-friendly Version
Email an Associate
