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Texas  + Houston-Galveston  + Apartments  | 

The Lynd Group Sells Houston-Area Apartment Community for $53.9 Million

The Lynd Group has sold a 312-unit apartment community near Houston for $53.9 million- the second disposition of a value-add portfolio asset in that market over the past 30 days.  The Villas at Valley Ranch closed on April 8, approximately nine months after the San Antonio-based real estate company acquired it for $39 million.

The buyer is Houston-based Keener Investments, which specializes in the acquisition and renovation of multifamily assets. The deal was brokered by Berkadia.

Villas at Valley Ranch, which went through extensive renovation and upgrades by Ventura, CA-based Lynd, is located at 21899 Valley Ranch Crossing Dr. in Porter, TX. Built in 2008, Lynd acquired the property in late June 2021 as part of a two-property portfolio. On March 7, 2022, the firm sold the other community, Paramount at Kingwood, on for $61.38 million after buying it for $44.55 million. In total, Lynd paid $83.55 million for the portfolio and sold it for over $115 million in less than a year of hold time. 

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The Lynd Group

About Erik Hamilton

Erik Hamilton, who has more than 15 years in CRE journalism, is a former staff writer with the Los Angeles Times and the Orange County Business Journal. In addition to The Times and the OCBJ, he was also a reporter and editor for Crittenden Research, The San Bernardino Sun and UPI. Erik also worked six years in CRE public relations with Los Angeles-based Hoyt Organization, where he was a Senior Account Executive. He later joined Lee & Associates where he served as the Director of Corporate Communications. There ,in addition to his work with Lee’s CEO, he managed 57 offices nationwide and provided PR, social media and media training for the offices. A graduate of UC Irvine, with a BA in history, he is an avid record collector where he continues to search for a rare Joy Division single.

  • ◦Sale/Acquisition
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