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| Northeast Pines apartments 18839 South Memorial Drive Humble, TX |
Humble, TX –— California-based Bolour Associates Inc. (BOLOUR), a
privately-owned real estate investment, development and finance company, has
acquired the Northeast Pines apartment community in Humble, Texas for $9.62
million.
The company will invest more than $1 million
in renovations at the property, including interior, exterior and common area
upgrades to attract a rapidly growing local renter base.
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| Mark Bolour |
Robert Su of Su Real
Estate Group represented the property seller, a private investor, in the
transaction
Located at 18839 S. Memorial Dr., Northeast
Pines totals 136 units across 12 buildings in the Lake Houston area of metro
Houston. It is visible from the Interstate 69 Eastex Freeway and is a 20-minute
drive from downtown Houston.
“Houston is expanding rapidly, and the City
of Humble is a prime beneficiary of that growth, thanks to its low cost of
living and a local population where almost one half of the residents are
renters,” said BOLOUR CEO Mark Bolour.
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| Robert Su |
“There is a lot of demand in this pocket of Texas and we expect that demand to remain high.
"At Northeast Pines, we will leverage our experienced property management and renovation teams to create a new, high-quality living experience for the residents of the area.”
BOLOUR will renovate all Northeast Pines
units with open concept kitchens, new countertops, refaced cabinetry, modern
energy efficient appliances, re-tiled bathrooms and wood flooring.
To discuss, please contact BOLOUR Acquisitions Manager Kevin Saghian at 323.677.0550.
CONTACT:
David Ebeling
Ebeling Communications
949.861.8351
949.278.7851 (Cell)
Member of the National Association of Real
Estate Editors (NAREE)
“PR Strategist for the Commercial Real
Estate Industry: I do what I love and love what I do.”
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