Performance Properties Acquires 300-Unit Apartment Complex in Houston

HOUSTON — A partnership led by Performance Properties, a Dallas-based property management firm, has acquired Timberwalk Apartment Homes, a 300-unit multifamily complex in Houston. Situated on 10.2 acres at 5635 Timber Creek Place Drive, the gated property features a pool, fitness center, clubhouse and common areas. Built in 1984, the community was 93 percent occupied at the time of sale. Todd White and David McQuaid of Performance Properties represented the partnership, known as Timberwalk Associates LP, in the transaction. Russell Jones, Matt Saunders and Zach Springer of ARA Newmark represented the seller, Mosaic Residential Inc. The new ownership plans to invest $1.2 million to complete a renovation program at Timberwalk that Mosaic Residential began in 2014.