A multifamily housing complex in Houston recently changed ownership in northwest Houston. The Retreat at Cypress Station at 18200 Westfield Place Dr., near FM 1960 and Interstate 45, was purchased by GPI Cypress Station LP.

  • The Retreat at Cypress Station, located near Interstate 45 and FM 1960, was recently purchased by GPI Cypress Station LP.
  • The multifamily building features 296 units and is located near a popular area of northwest Houston.
  • On-site amenities include a pool, playground, nearby walking trails, fitness center and parking.
houston

The Retreat at Cypress Station

A multifamily housing complex in Houston recently changed ownership in northwest Houston. The Retreat at Cypress Station at 18200 Westfield Place Dr., near FM 1960 and Interstate 45, was purchased by GPI Cypress Station LP.

The community offers a buisness center, fitness center and clubhouse. It also features outdoor amenities as well as a barbecue and picnic area, pool, playground, nearby parks and walking trails.

The apartment units each have a washer and dryer, towering ceilings, top-notch appliances, patio/balcony and hardwood floors. All units are accessible with a wheelchair.

Apartmets are either one- or two-bedroom units, spanning from 700 square feet to more than 1,140 square feet.

“The property is an outstanding value-add opportunity located within a high-visibility area of northwest Houston,”  Will Balthrope of Institutional Property Advisors — one of the seller representatives — said in a statement. “Previous ownership made significant common area improvements and began interior upgrades.”

map

Sitting on a scenic property with a pond and plenty of greenery, the Retreat at Cypress Station is just off the bustling section of the neighborhood but within arm’s reach.

Jennifer Campbell of Institutional Property Advisors, another seller representative, believes the new owner will reap renovation rewards.

“The upgrades and the property’s strategic location near major transportation arteries position it well for long-term stability and value appreciation,” she told Realty News Report.

A purchase price has not been disclosed.

Email Kimberly Manning

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Success!
Thank you for subscribing to Morning Headlines.
Back to top