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CONROE, TX-California based Praxis Capital, LLC has acquired the 140-unit Whispering Oaks Apartments in Conroe, a suburb of Houston. This stabilized, yet high potential complex, is the latest Texas acquisition for Praxis Capital, who has just opened an office in Texas. The company plans to acquire several more properties in the major Texas metros.

Using the extensive due diligence for which Praxis is known, the firm looked at several hundred properties before seizing this high potential opportunity. “This is a value-add play” says Brian Burke, managing director of Praxis Capital LLC.  ”This off-market acquisition is a very well positioned asset. The Houston area is experiencing tremendous job growth and we see the stable Texas economy as very favorable to multifamily property investment. We foresee this as a very desirable property for our residents and for our investors.”The Houston MSA population is estimated to increase by 2.66 million residents by 2030.  This would result in one of the largest population growths in the country.

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