Lion Real Estate Group, LLC (“LREG”), a Dallas-headquartered real estate investment and asset management firm focused on acquiring value-add and opportunistic multifamily properties, continues to expand its footprint in the Sun Belt. The firm acquired the Villages of Briar Forest, a 241-unit apartment community in Houston, marking the firm’s second acquisition in the Houston market and eighth acquisition in its LREG Multifamily Fund III.
The transaction was brokered by Thomas Alleman in Newmark’s Houston office and financed by Newmark’s debt team out of Los Angeles.
The Villages of Briar Forest was built in 1999 and underwent a partial renovation by the previous owner. Lion plans to continue upgrading the units and overall community. That includes renovating the remainder of the partially renovated units with quartz counter tops, new vinyl plank flooring, backsplashes, upgraded cabinetry, and updated modern lighting packages. The already-renovated units will see minor upgrades including quartz countertops in the bathrooms, among other aesthetic improvements.
Lion Real Estate Group’s Ben Kriegsman, Vice President, Acquisitions, said, “Villages of Briar Forest is our second acquisition in Houston. The property is 241 units and located in a very family-centric neighborhood within the broader Energy Corridor surrounded by great schools. Each unit at the property will be renovated to a premier-level finish, and the amenities on-site will see a refresh. The property boasts two pools, a spacious fitness center, sauna, and a beautiful clubhouse. We’re excited to begin our renovation plan and provide an excellent place to live for our tenants.”
Mory Barak, Co-CEO/Co-Founder of Lion, added, “We look forward to continuing our expansion into Houston. The market has seen a dramatic decrease in new supply, which has opened a window of opportunity for investment in value-add assets. Our operational experience in Houston has been positive, and we feel that the market is well positioned for rent growth in the coming years. The Villages of Briar Forest is near another asset that we acquired in 2024 called Stone Creek at Old Farm.”
The Villages of Briar Forest is located at 14504 Briar Forest Drive in West Houston. The site is near nature amenities like George Bush Park, Noble Road Trail, Terry Hersey Park and extensive hiking and biking trails along Buffalo Bayou. The Energy Corridor location is close to highly rated schools such as Bush Elementary School and employers including Houston Methodist West Hospital, Texas Tech University, and Sysco Corporation.
