HOUSTON - Starlight U.S. Multi-Family Core Fund has entered into an agreement to acquire The Reserve at Jones Road, a 114-unit, garden-style, Class A apartment complex.
Price for the property is approximately $13.1 million.
It was completed in 2013 and is located at 11925 Jones Rd. The company is scheduled to close on or about November 11.
The Reserve consists of four, three-story walk-up buildings on a 4.2-acre site comprised of one- and two-bedroom units. As of October 27, The Reserve's occupancy was 94.7 percent.
Amenities include a central clubhouse with a 24-hour fitness center and an executive business center. Outdoor amenities include a salt-water lagoon pool, cabana with gas grill, picnic area and dog park.
Source: Starlight U.S. Multi-Family (No. 3) Core Fund
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