American Landmark Apartments, one of the fastest-growing multifamily owner-operators in the country, announces it has acquired Pine Creek Ranch, a 240-unit multifamily community in The Woodlands community just north of Houston. The property will be renamed Stone Creek at the Woodlands and will undergo a $2.7 million capital improvements project.
This is the firm’s 41st Texas property and their 17th in the Houston metro area.
“Houston has shown promising signs of a strengthening economy as consumer confidence and business outlooks improve throughout the metro area,” said Christine DeFilippis, Chief Investment Officer of American Landmark. “The uptick in manufacturing and a rise in service sector optimism indicates a positive trajectory for market fundamentals that complement our continued goals in the region.”
The capital improvements program will include numerous upgrades throughout the property. Unit renovations will include stainless steel appliances, new kitchen tile backsplash, new cabinet faces with contemporary hardware in kitchens and bathrooms, luxury plumbing and lighting fixtures, master closet organizers in master bedrooms, upgraded bath accessories and electronic smart locks.
Community amenities will feature landscape beautification, dog park agility course, pet wash, clubhouse enhancements, new fitness center equipment and new pool furniture.
Built in 2005, Stone Creek Apartments is located at 3600 College Park Drive. One- and two-bedroom units include granite countertops, walk-in closets and a washer/dryer. Community amenities feature a swimming pool, clubhouse with Wi-Fi, tennis court, tennis court, courtyard, picnic area and a Zen garden.
Located in The Woodlands, the community is situated near multiple transit routes and employers. Lone Star College Montgomery is less than a minute away, and Woodforest Bank Stadium is about five minutes from the property. Interstate 45 is also about five minutes away from the community, offering direct access into Houston and throughout the metro area.