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29SC Acquires Avana Sterling Ridge with Rebrand Plans Afoot
29th Street Capital (29SC) recently acquired Avana Sterling Ridge Apartments, a class-B 254-unit multifamily asset located in The Woodlands. 29SC plans to rebrand the property, implement a limited interior renovation package, and improve the property’s exterior, clubhouse and existing amenities.
“We see all of the demographic indicators pointed in the right direction while the supply pipeline has slowed down,” said Javier Bustillo, 29SC’s senior vice president of acquisitions. “We are being very selective in the locations we invest in and see a clear runway for the next few years.”
Located at 6900 Woodlands Dr., Avana Sterling Ridge is approximately 28 miles north of downtown Houston. Avana Sterling Ridge offers large floor plans and built-in desks for the work-from-home set.
“Access to high quality employment and great schools will continue to drive this submarket and benefit this asset,” adds Doug Burt, 29SC’s VP in Houston. “We have always wanted to own a community in The Woodlands area.”
The seller and sale price were undisclosed.
For comments, questions or concerns, please contact Lisa Brown</
- ◦Sale/Acquisition
