REBusinessOnline

SWBC Acquires 216-Unit Apartment Community in Northwest Houston

SWBC's acquisition of Cypress Lake Apartments in northwest Houston will complement its new construction project in Kingwood, a northern suburb of Houston.

HOUSTON — Dallas-based multifamily developer SWBC Real Estate LLC has acquired Cypress Lake Apartments, a 216-unit multifamily community in northwest Houston. Built in 1995, the property features one-, two- and three-bedroom units and amenities such as a pool, fitness center, outdoor grilling area and a private lake with an encompassing jogging trail. Cypress Lake Apartments, which SWBC acquired as a value-add investment, was 90 percent occupied at the time of sale.

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