Trustee John Miller bought the 74%-leased complex at 8311Winkler Rd. from the Schuhmacher Investment Co. of Houston. G.Wayne Reyes in the Houston office for Dallas-based Henry S. MillerCommercial tells GlobeSt.com that the property has significantupside potential in rents as well as occupancy. Rent averages 68cents per sf, but Reyes says that could go up about 15% after theexterior is renovated. The interiors were completed prior to thesale, he says.

Reyes says the family-owned Schuhmacher Investment developedGlenview Apartments in 1955, selling now so its members couldinvest in other ventures. The six-acre holding is a mix of one-,two- and three-bedroom units ranging from 600 sf to 1,200 sf.

The asset went on the market in January, but didn't garner anyinterest until a few months ago. Miller outbid three others for thecomplex. He was represented by Ashok Shah of Sunbelt RealtyAdvisors of Houston.