Stoneweg enters Houston market

Stoneweg U.S. has entered the Houston market, acquiring the Ashford Apartments, a 312-unit, class A community.

“Historically, our Texas and neighboring Southwest market-based assets have performed well for us, so strategically, adding Houston to the mix made a lot of sense,” said Matthew Levy, head of investments for Stoneweg US. “With population growth projections surpassing 60 percent over the next 10 years in Houston, and steady job creation to accompany the accelerated growth, we're extremely pleased to enter this robust market with such a high-caliber asset like Ashford Apartments.”

Located 17 miles west of downtown Houston in the heart of the Energy Corridor, Ashford Apartments features 312 luxury units with modern designs that include 10-foot ceilings, stainless-steel appliances, smart thermostats, keyless-unit entry, hardwood floors, rich mahogany cabinetry, built-in wine cellars, and floor-to-ceiling windows that provide ample natural lighting. Exterio