HOUSTON—Westmount Realty Capital LLC has purchased more than 4,000 multifamily units in Texas since 2012 and had success across its portfolio in boosting rents by making various unit upgrades. It also knows the value of location.

Its latest acquisition is Copper Mill, a garden-style multifamily community located at 15910 FM-529 in the rapidly growing Northwest submarket. It has access to the Greater Houston metro area and a large number of employers via major thoroughfares including Interstate 10, Highway 6, Highway 290 and the Sam Houston Tollway. It will directly benefit from the Texas Department of Transportation's program to update US 290 because of its location along FM-529, a roadway with one of the highest traffic counts leading directly onto US 290. The plan includes relocation of exit ramps farther from residential streets to provide safer and less congested conditions, while improving traffic flow.

The newly acquired property is poised to take advantage of that traffic count. Built in 1983, Copper Mill has 234 one- and two-bedroom units, as well as one-bedroom townhome floor plans. The company will rebrand the 177,250-square-foot community as Westmount at Copper Mill.

“The property is currently 98% occupied and provides the opportunity to achieve above-market rent growth through renovation of unit interiors, upgraded amenities and improvement of property operations,” said Michael Anderson, managing director of acquisitions for Westmount.

In addition to the improvements that have already been made, Westmount plans to further improve unit interiors to include new lighting and plumbing fixtures, cabinets, kitchen countertops, appliances and solid-surface flooring. Interior amenities include washer and dryer connections, fireplaces, ceiling fans, custom built-in bookshelves, walk-in closets, private balconies and additional outdoor storage.

“Westmount has several multifamily properties in the Houston region and the acquisition of Copper Mill will allow us to further strengthen its presence in the area,” Clifford Booth, president and CEO of Westmount, tells GlobeSt.com. “We are actively seeking to acquire value add multifamily communities and portfolios within the Texas market.”

The property also has community amenities including a well-equipped business center, fitness center, pool, outdoor kitchen, dog park and gate-controlled access. Conveniently situated among several retail centers, Copper Mill provides residents with numerous dining, shopping, entertainment options and more walkability in the neighborhood.

“As a major corporate center, Houston is home to a thriving business economy that has diversified from its traditionally strong presence in the energy industry,” Booth says.

Instant Insights /

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