HOUSTON—Westmount Realty Capital has acquired Summer Cove Apartments, a class B garden-style apartment complex in Houston. The asset is located at 725 FM 1959 in Houston.

Formerly known as Summer Cove 1 and 2, Westmount is rebranding the apartment community as Westmount at Summer Cove. The two-story project constructed in 1983 consists of 376 units on a 13.82-acre site, for an average of 27 units/acre.  

“Summer Cove has many aspects that make it a solid investment for Westmount,” Clifford A. Booth, president and CEO of Westmount, told GlobeSt.com. “The community is in a prime location for busy urban professionals and the property is in excellent condition. Also, since the property currently has competitive monthly rents, we believe that unit interior upgrades bring a value-add opportunity.”

Phase I of Summer Cove is 184 units in 13 buildings, with an average unit size of 730 square feet. Phase II has 192 units in 14 buildings, averaging 728 square feet per unit. The community is in southeast Houston, centrally located between Interstate 45 and Highway 3.

Summer Cove's previous owner of seven years maintained a stable occupancy level above 90 percent. In the last 12 months, occupancy averaged 96 percent and rents have increased 6.7 percent over the last 12 months as well with no concessions. The seller completed nearly $1 million in recent capital improvements including new exterior paint, new roofs and a remodeled clubhouse and fitness center.

FRMC financing for the acquisition was arranged by the Dallas office of HFF.