HOUSTON—Dallas-based Westmount Realty Capital LLC has acquired the 542-unit Braesridge Apartments, located in southwest Houston, and will rebrand the garden-style community as Westmount at Braesridge. 

The three-story asset, constructed in 1982, consists of 413,276 square feet on 16.74 acres, for an average of 32 units per acre.  

"Acquiring a community that has been well maintained is a great opportunity for us because we can focus on upgrades rather than rehabilitation,” Clifford A. Booth, president and CEO of Westmount Realty Capital, told GlobeSt.com. “Braesridge has great potential for long-term returns."

The apartments, located at 11100 Braesridge Drive, are a mix of one and two-bedroom units ranging from 550 square feet to 1,300 square feet, with elevators to all third-floor units. Positioned in the Greater Fondren Southwest submarket, the location is nearby Beltway 8, Interstate 610 and US Highway 59.

Common-area amenities include a clubhouse, complimentary assigned covered parking, social activities, a courtyard area with two gazebos, a dining hall with a full kitchen and 15 sets of tables, two swimming pools, a business center and limited-access gates.

“We expect that the majority of our exterior and amenity renovation expenditures will be spent on value-add endeavors rather than curing deferred maintenance issues,” says Booth.

Financing for the acquisition was arranged by the Dallas office of NorthMarq Capital.