Moody National Buys 164 Units, Plans Eventual MXU

Houston-based Moody National Cos. acquired the 164-unit Le Renaissance apartments from Texas Pinnacle Apartments. Though Moody National will operate the 1960s-built complex as-is for a short time, the ultimate goal is to develop a mixed-use project with office and retail space.

The property is located at 970 Bunker Hill Rd., just south of Interstate 10. The sales price was not disclosed, though the Harris Central Appraisal District has valued the property at $13.5 million. Seller Texas Pinnacle had owned the property since 1990.

Transwestern’s Ed Cummins and Ryan Mendez represented the seller in the transaction.