Newport Real Estate Acquires Fountains at the Bayou Apartment Community in Houston for $27.1M

Fountains at the Bayou in Houston totals 460 units. The property was built in 1969.

HOUSTON — Newport Real Estate Partners, a newly formed investment firm focused on value-add multifamily properties, has acquired The Fountains at the Bayou, a 460-unit community in Houston. Houston-based investment firm Nitya Capital sold the property in an off-market transaction for $27.1 million. Built on eight acres in 1969, the property spans 31 buildings and features amenities such as a pool, clubhouse and playground areas. Newport’s two-year value-add program will center on renovating amenity spaces, upgrading landscaping and signage and rebranding the community as Valencia Grove Apartments.

Get more news delivered to your inbox. Subscribe to France Media's e-newsletters. Click here.

Related News