
Dallas investor adds to Houston apartment portfolio
Published 11:42 am, Friday, December 15, 2017
Dallas-based Westmount Realty Capital has expanded its Houston holdings with the acquisition of the 234-unit Copper Mill apartments at 15910 FM 529.
Built in 1983, 177,250-square-foot northwest Houston community will be rebranded as Westmount at Copper Mill.
"Copper Mill presented Westmount with the opportunity to acquire a well-positioned property with significant value-add opportunity," managing director-acquisitions Michael Anderson said in an announcement.
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"The property is currently 98 percent occupied and provides the opportunity to achieve above-market rent growth through renovation of unit interiors, upgraded amenities and improvement of property operations."
Westmount has purchased more than 4,000 multifamily units Texas since 2012.