PPI Acquires Estates at Fountain Lake

HOUSTON—Northbrook, Ill.-based Prime Property Investors has completed the acquisition of a 306-unit apartment community in the Houston suburb of Stafford within Fort Bend County, one of the fastest-growing counties in the nation, according to the U.S. Census Bureau. This will be the second Houston-area property that PPI owns, marking the company’s continued expansion into the Houston multifamily real estate market. 

Located on Fountain Lake Drive, just east of South Dairy Ashford Road, Estates at Fountain Lake (formerly known as Alexan Fountain Lake) is a 13.6-acre full-amenity luxury community that consists of 14 three-story garden-style buildings with a total of 306 units. PPI acquired the property from Dallas-based Trammell Crow Residential.