HOUSTON–Sierra at Fall Creek has been purchasedby The Bascom Group. The 252-unit apartmentcommunity consists of 13 residential buildings and a stand-aloneleasing center. The terms of the deal were not disclosed.
Sierra at Fall Creek was built in 2004 on 13 acres. It consistsof one-, two- and three-bedroom units. The apartment community sitswithin the master-planned community of Fall Creek, northeast ofHouston.
“Buying a newer asset in a sought-after location that isgenerating strong current yield, with appreciation potentialthrough capital improvements, is a good deal-profile for us inHouston,” says James D'Argenio, principal forBascom.
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