Fogelman Properties, one of the country’s largest, privately-owned and fully integrated multifamily investment and property management companies, announces the acquisition of The Moorings, a 201-unit apartment waterfront community in Houston, Texas.
The Moorings offers newly upgraded one and two-bedroom apartment homes with rental rates ranging from $897-$1,565. The recently acquired property is 95 percent occupied and will be managed by Fogelman. Community amenities include waterfront views, Amazon hub lockers, a 24-hour fitness center and a resort-style pool. The property is located near major employers in the metro area including the Port of Houston, Webster Medical Center, NASA and Bayport Terminal.
“The Moorings is located in a distinguished seaside community on Clear Lake in League City, Texas, a prime Houston submarket. With access to top employers and school systems, as well as dining and entertainment, the community is well-suited to access boating and recreation literally at your doorstep,” says Mike Aiken, SVP of Investments at Fogelman. “As active investors and seasoned property managers, we look forward to expanding our footprint in the greater Houston area.”
Headquartered in Memphis since 1963, Fogelman Properties manages 96 multifamily communities across the Southeast and Sun Belt regions. The company has grown from a local family-owned business to a leader in the multifamily industry, overseeing more than $5B in asset value. Fogelman and its investment partners aim to acquire $300M+ in multifamily assets in 2022.
