HOUSTON-California-based MIG Real Estate has purchased Pine Creek Ranch, a 240-unit complex at 3600 College Park Drive in The Woodlands.
The Houston Chronicle says the deal is part of the company's strategy to invest in the hot Houston residential real-estate market. Last year, MIG purchased the Estates of Willowbrook, formerly the Wynhaven at Willowbrook apartments, the paper says.
Pine Creek Ranch is located on 12 acres on College Park Drive east of Gosling Road. It is about five miles from the Cynthia Woods Mitchell Pavilion and the Market Street retail center.
David Oelfke of ARA Real Estate Investment Services represented the seller, JP Morgan Investment Management. Greystar will manage the property.
Part of the MIG companies, MIG Real Estate was founded in 2002 after the $2 billion purchase by Nestle of Chef America, the maker of Hot Pockets and Lean Pockets.
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