CONROE, TX—CBRE Houston's Multifamily Investment Properties Group has completed the sale of the Retreat at Conroe, a 210-unit class A multifamily community, on behalf of Houston-based The Retreat at Country Club Park, LLC. Beverly Hills, CA-based FSC Realty, LLC, purchased the property. The terms were not disclosed.
The luxury community, at 2951 North Loop 336 West, was completed in 2013. It features one-, two-, and three-bedroom units ranging in size from 593 - 1,344 square feet. It is 97% occupied.
“The Conroe area is going through a tremendous boom at this time. The major employment coming south has pushed new and future employees to search for housing north of Houston in Conroe and it is creating tremendous demand in the area,” said Ryan Epstein, senior vice president at CBRE.
Community amenities include a cyber Starbucks café, sports lounge and multimedia center, health and wellness center, resort-style pool with beach entry and aqua sunning deck, and available private garages and storage units.
Each apartment home features high speed internet access, granite countertops in the kitchen and baths, stainless appliance package, and Roman soaking tubs. Additional features found in select units include a food prep island, built-in computer desk, bay windows, walk-in shower and linen closet, among other features.
The Retreat at Conroe is located within five miles of the largest employers in Montgomery County, and approximately 15 miles from Exxon Mobil's new 385-acre campus.
Epstein and Clint Duncan, with CBRE, represented the seller. Additionally, CBRE's Troy Tegler and John Fenoglio secured debt for the acquisition.
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