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3/25/25
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Dallas-based Lion Real Estate Group LLC has acquired Villages of Briar Forest, a 241-unit apartment community in Houston, TX. The purchase marks the firm’s second acquisition in the Houston market and eighth acquisition in its LREG Multifamily Fund III.
Built in 1999, The Villages of Briar Forest is located at 14504 Briar Forest Dr. in West Houston. The property boasts two pools, a spacious fitness center, sauna, and a beautiful clubhouse. It underwent a partial renovation by the previous owner and now Lion plans to continue upgrading the units and overall community.
Each unit at the property will be renovated to a premier-level finish, and the amenities on-site will see a refresh. This includes renovating the remainder of the partially renovated units with quartz counter tops, new vinyl plank flooring, backsplashes, upgraded cabinetry, and updated modern lighting packages. The already-renovated units will see minor upgrades including quartz countertops in the bathrooms, among other aesthetic improvements.
The property is near nature amenities like George Bush Park, Noble Road Trail, Terry Hersey Park and extensive hiking and biking trails along Buffalo Bayou. The Energy Corridor location is close to highly rated schools such as Bush Elementary School and employers including Houston Methodist West Hospital, Texas Tech University, and Sysco Corporation.
The Lion portfolio now encompasses more than 6,804 units nationwide, and the firm expects to continue adding another 6-7 assets in the Sun Belt and Southeast through its third pooled vehicle that currently has a portfolio of eight assets to date.
The transaction was brokered by Thomas Alleman in Newmark’s Houston office and financed by Newmark’s debt team out of Los Angeles. The price was not given out.
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