Located on 32 acres of land, Village @ Piney Point is a ~1,100 unit multi-family project in Houston, Texas. The total project cost was ~$58MM and we the property sold for ~$76MM.
The 40+ buildings located of this residential property were redeveloped and upgraded, increasing rents and occupancy.
The total redevelopment process took 18 months and the gain was over $18MM on a $6MM equity investment.