Windwater at Windmill Lakes is a 150-unit community, built in 1999 and located in the southeast Houston submarket. The acquisition marks Bascom’s 39th multifamily property closed in Texas.
The apartment community is very well maintained, offering functional, spacious interior floorplans with original construction features ideal for upgrades. The existing amenity space offers sufficient opportunities for enhancement to better serve the needs of existing and future residents. With 100 percent of the units in original condition, this acquisition presents an attractive opportunity to physically reposition the asset.
Jason Hanna, Senior Vice President of Operations, commented: “We are excited to acquire a property that offers characteristics, like large floorplans and ample community space, that are desired by today’s renters. We can elevate the interior design to match current modern standards and offer a boutique rental product for the submarket.”