Venterra Realty Sells 261-Unit Apartment Community In Houston

Venterra Realty sold Bala Woods at Kingwood after 8 years of ownership

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Mar 08, 2022, 14:01 ET

HOUSTON, March 8, 2022 /PRNewswire/ -- Venterra Realty recently sold Bala Woods at Kingwood, a 261-unit garden-style apartment community located just off the I-45 in Kingwood, a north Houston suburb.

Built in 2000, Bala hosts a mix of one-, two- and three-bedroom apartments with floorplans that include separate dining areas, dens, and built-in work areas. With a unique two-story construction style fitted with attached garages, renovated interiors, and an impressive amenities package, the property was able to excel and compete with newer constructed properties in the area.

Venterra acquired the property in November 2013. Over the 8+ years under Venterra's ownership, Bala Woods consistently performed well, successfully navigating the pandemic and related impacts on its residents. Occupancy remained strong, averaging 95% over the past year and showing strong momentum in pricing.

Throughout its ownership, Venterra completed an extensive number of upgrades to the property. These improvements included fully equipping the property with SMARTHOME technologies, adding new countertops in kitchens and bathrooms of each unit, new appliances, washers and dryers, Kolay wood plank flooring in upgraded units, a dog park, SMARTPACKAGE lockers, a business center, new roofing, a covered cabana area at the pool with a grill, new pool furniture, as well as a completed renovation and remodel of the leasing office.

"We are proud to have served the residents at Bala Woods at Kingwood for the past 8+ years, completing a vast number of upgrades that allowed for a significantly enhanced living experience," said John Foresi, CEO of Venterra Realty. "Many people have contributed both to the sale of Bala Woods as well as the exemplary management of this property over the years. We look forward to applying our learnings from this community to further inspire future ventures, expand our portfolio and provide more residents access to exceptional living experiences," said Venterra Chairman, Andrew Stewart.

About Venterra:

Founded in 2001, Venterra Realty owns and manages approximately 70 communities and more than 20,000 apartment units across 13 major US cities that provide housing to over 40,000 people and 12,000 pets. The organization has completed $7.2 billion in real estate transactions and currently manages a portfolio of multi-family real estate assets valued at approximately $4.2 billion. Venterra is committed to improving the lives of its residents by delivering industry-leading customer experience. Find out more about Venterra Realty and its award-winning company culture at Venterra.com.

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SOURCE Venterra Realty