Houston’s commercial real estate sector continues to flourish

Houston's commercial real estate segment is one of the best in the nation.

Based out of Newport Beach, Calif., MIG Real Estate recently acquired a 240-unit apartment complex on the coast, but nowhere near California.

MIG Real Estate netted Pine Creek Ranch, an apartment home community in the Houston metro area, which is located off the Gulf Coast.

"Pine Creek Ranch offers an outstanding opportunity for upside potential with its attractive amenities package and its location near expanding job centers and medical campuses in north Houston," said Greg Merage, CEO of MIG Real Estate.

The multifamily community features one-, two-, and three-bedroom floor plans with large closets and bedrooms. The units also have full-size washers and dryers, fully equipped kitchens, and private patios, balconies or sunrooms for each unit.

The community also offers workout enthused residents a fitness center, swimming pool with beach entry and a half-court basketball court.

For leisure time, there is a barbecue area, a billiards rooms and theater. A business center and a Wi-Fi equipped clubhouse are available for those wishing to do work on the grounds.

The community, located at 3600 College Park Drive in The Woodlands, is just a handful of miles away from Cynthia Woods Mitchell Pavilion, Market Street and regional retail centers including Pinecroft Center and The Woodlands Mall.

Families in the area should also note that Pine Creek Ranch is in the Conroe Independent School District, which sees 73 percent of its schools garner an "Exemplary" rating from the Texas Education Agency.

Merage also hoped to entice potential residents to the community by citing Houston as "America's next great global city," according to Forbes.

A recent report from the Brookings Institution, a public nonprofit group based in Washington, D.C., also sees growth in Houston. The institution specializes in independent research designed to promote the economy and social welfare, and its recent study lists Houston as the 12th best market for economic improvement out of the nation's largest 100 metro areas.

According to the institute, Houston had the nation's fourth best improvement in gross domestic product output for the second quarter of 2013.

Third deal in Texas
MIG Real Estate completed more than $800 million in acquisitions since 2009, specializing in office, retail, hotel and multifamily properties in major markets.

Pine Creek Ranch is the company's third investment in a Texas multifamily property. The company made two major acquisitions in 2012: The Cottages in Austin and Wynhaven at Willowbrook in Houston.

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