NEWPORT BEACH, CA and HOUSTON, TX--(Marketwired - Sep 26, 2013) - MIG Real Estate, a Newport Beach, CA-based real estate investment company, has completed the acquisition of Pine Creek Ranch, a 240-unit apartment home community in the Houston metro.
Pine Creek Ranch is located at 3600 College Park Drive in The Woodlands, one of the most affluent neighborhoods in Texas and the #3 best-selling master-planned community in the US according to ARA Real Estate Investment Services. The community is situated on 12 acres of land, just two miles from Panther Creek where home prices exceed $1,000,000.
"Pine Creek Ranch offers an outstanding opportunity for upside potential with its attractive amenities package and its location near expanding job centers and medical campuses in north Houston," said Greg Merage, Chief Executive Officer of MIG Real Estate. Merage also cited Houston's optimistic outlook, recently being named by Forbes as "America's next great global city."
The multifamily community features one-, two-, and three-bedroom floor plans with oversized closets and bedrooms, full-size washers and dryers, fully equipped kitchens, and private patios, balconies or sunrooms for each unit. Additional community amenities include a Wi-Fi equipped clubhouse, swimming pool with beach entry, air conditioned basketball half-court, fitness center, barbeque area, billiards room, theater and business center. Pine Creek Ranch residents also enjoy remote access gated entry along with covered parking and garage options. The strong performance of recently upgraded units demonstrates meaningful potential for value-add improvements across the property.
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