HOUSTON — San Antonio-based REEP Equity has purchased Residences 2727, a 171-unit apartment complex in Houston. The property sits on 3.7 acres and offers one- and two-bedroom units averaging 917 square feet. Amenities include a pool, fitness center, pet park and a resident lounge. Mark Brandenburg, C.W. Sheehan and Cort Martin of JLL arranged fixed-rate acquisition financing through NexBank on behalf of REEP Equity, which will implement a value-add program that will include the addition of a business center.