Two apartment complexes west of Houston recently changed hands. The 312-unit Ranch at Sienna in Houston-suburb Missouri City and the 276-unit Vargos on the Lake were both recently sold.
Thompson Thrift out of Indianapolis sold the Ranch at Sienna. Built in 2016, the property offered units that averaged 1,100 square feet in size. Houston-based Laye Capital Investments purchased the property for an undisclosed amount.
Arizona-based SB Properties acquired Vargos on the Lake. The property offered some unique amenities such as kickboxing stations and a resident lounge with billiard and poker tables. Jennifer Ray and Ryan Epstein of Walker & Dunlop represented the seller, the Berkshire Group.
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.