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Milan 367,305-SF Class A complex sells in ​Sugar LandMilan 367,305-SF Class A complex sells in ​Sugar Landhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=114022015-12-09T06:00:00Z

​​​SUGAR LAND - Advenir bolstered its holdings in Houston with the purchase of Milan, a 360-unit, Class A multifamily community the firm acquired from Fairfield Residential and BVT Equity Holdings.

The 367,305-sf apartment complex was constructed in 2006 at 13100 W. Bellfort Ave. in the Sugar Land/Missouri City multifamily submarket.

Currently 98 percent occupied, the community is comprised of one-, two- and three-bedroom floorplans across 15 three-story buildings. Community amenities include covered and garage parking, a resort-style pool, a 24-hour athletic center, a clubroom with a kitchen and a billiards room.

Advenir noted the high barrier to entry, affluent demographics and strong market fundamentals as reasons for the purchase.

Major area employers include Fluor Corp., Fort Bend ISD, Schlumberger, Houston Methodist Sugar Land Hospital, Nalco Energy Services, Sugar Land Business Park and United Health care.

The area is also home to Sugar Land Town Square, a 33-acre lifestyle center development comprised of 750,000 sf of Class A office space, 200,000 sf of retail and restaurants, 167 condominium units, an 82,000-sf City Hall and a 300-room Marriott hotel and conference center.

CoStar Group
Houston-The Woodlands-Sugar Land
Multifamily
http://www.costar.com/News/Article/Advenir-Secures-Latest-Investment-in-Houston/177773

​See the latest data at Houston's Multifamily Market Research.

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