American Landmark Claims 208-Unit Hilltops Apartments
American Landmark and debt/equity partner Electra America nabbed Hilltops Apartments, a new, 208-unit multifamily property in Conroe, TX. The seller is listed as 2014 Loop 336 Ltd. of Mount Vernon, TX.
The property is situated on 11.2 acres at 2200 North Loop West in Conroe, approximately 40 miles north of Houston. The property offers one and two-unit apartments averaging 881 square feet. Amenities include a resort-style swimming pool, business center with complementary office services, a game and media room, a resident club room, fitness center and laundry facility.
Hilltops Apartments was 92% leased at the time of sale. Though the complex delivered in 2017, the Houston-based buyer is planning to invest approximately $800,000 in capital improvements, which will include adding washers/dryers to the units, installing USB ports and outlets, implementing valet trash service and building a package-delivery locker system for residents.
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