HOUSTON - The River Oaks Luxury Apartments, a 1960s-era high-rise at 3435 Westheimer Rd., has been sold to a New York-based company with plans to redevelop the property.
Arel Capital bought the 17-story building in September. The company will convert the high-rise apartment building into a 92-unit condominium building over a two- to three-year time frame.
The building has gone through several owners since it was built in 1962. The latest owner was Boston-based Metropolitan Properties of America.
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