The Bascom Group has continued its expansion in Texas, acquiring a 150-unit apartment community in Houston, marking the group’s fourth Houston acquisition within a year. The financial terms were not disclosed.
Windwater at Windmill Lakes is a 150-unit community, built in 1999 and located in the southeast Houston submarket. The acquisition marks Bascom’s 39th multifamily property closed in Texas.
The apartment community is very well-maintained, offering functional, spacious interior floorplans with original construction features ideal for upgrades. The existing amenity space offers sufficient opportunities for enhancement to better serve the needs of existing and future residents. With 100 percent of the units in original condition, the acquisition presents an attractive opportunity to physically reposition the asset.
Demand for Houston multifamily accelerated dramatically in the second half of 2021. Houston is expected to have the third-largest employmen
