CHICAGO--Northbrook, Ill.-basedPrime Property Investors (PPI) has designatedGreystar Real Estate Partners to oversee leasingand property management at Estates at FountainLake, a 13.6-acre luxury rental community southwest ofHouston that consists of 14 three-story garden-style buildings witha total of 306 units.

Located on Fountain Lake Drive,just east of South Dairy Ashford Road, the community is in FortBend county. PPI acquired the property from Dallas-basedTrammell Crow Residential (TCR) earlier this yearand is in the process of executing a “value-add” strategy tofurther enhance the property to meet the increasing demand forupgraded luxury apartments in the area.

According to Barbara J.Gaffen, co-CEO of PPI, hiring Greystar was step one inelevating the community to one of the most exclusive luxury rentalproperties in the area.