Sugar Land’s ‘New Territory’ Multifamily Community Acquired by Pensam
Broadstone New Territory has 504 units. It’s part of the 3,200 acre New Territory master-planned community in Sugar Land.
The apartment complex was completed in two phases, the first completed in 1997 and the second in 2002. Pensam plans to upgrade the kitchen areas and plumbing fixtures as well as the exterior amenities. It currently has outdoor beach volleyball courts, business center, fitness center and a pool with water park features.
Pensam’s Hen Shoval knows there’s work to be done, “Broadstone New Territory is a one-of-a-kind value-add opportunity in one of the most desirable submarkets in Texas. This property presents several unique opportunities for Pensam to both modernize what is already an attractive property and bring improvements to a community that is in proximity to thousands of jobs and millions of square feet of retail, recreation, shopping and dining.”
Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.