**Balfour Beatty Communities Acquires 300-Unit River Pointe Apartments in Conroe**
Balfour Beatty Communities has announced the acquisition of River Pointe, a 300-unit gated, garden-style apartment community located in Conroe, Texas. This marks the company’s second multifamily property acquisition in eastern Texas this year, following the purchase of The Leonard in Denton this past February. The acquisitions are part of Balfour Beatty’s broader strategic expansion plan for 2025.
River Pointe offers a variety of 1-, 2-, and 3-bedroom apartment layouts, each featuring spacious patios. Community amenities include a resort-style swimming pool, outdoor kitchen, 24-hour fitness center, and a resident clubhouse, all designed to enhance the living experience.
According to data from Newmark, River Pointe operates under a 3.3% fixed-rate loan set to expire in 2030. Over the past 12 months, the property has experienced a 3.0% increase in effective rent, while maintaining a strong average occupancy rate of 95.5%.
In connection with the acquisition, Balfour Beatty has plans to implement a series of improvements to the apartment interiors and shared community spaces, further elevating the property’s appeal and value.
