Sunstone Two Tree has recently acquired a 384-unit multifamily apartment property in the desirable Westchase neighborhood of Houston. The company plans to fully renovate the community, investing $10.5 million into upgrades for the Villas Del Paseo complex on Elmside Dr., which was built in 1978 and has received minimal improvements over time.
The acquisition, completed for $28.9 million from Comunidad Partners, is part of Sunstone Two Tree’s strategic expansion into high-growth markets like Houston. Construction is already underway and expected to be completed by 2025 under Sunstone’s management.
According to Scott Maddux of Sunstone Two Tree, Houston’s strong job market and population growth make it an attractive investment opportunity despite recent construction activity in the area. In fact, with demand outpacing supply, vacancies remain below ten percent in this thriving market.
