Forest Apartments is a 192-unit, garden-style apartment building located approximately 21 miles north of downtown Houston.
The property consists of 13 two-story buildings on six acres with parking. High demand in the area for apartments is driven by consistent job growth in high-tech, health and energy sectors.
Ytech infused millions to completely redevelop the property after acquisition and leased the units until stabilized occupancy was achieved. Renovations completed in 2013 include exterior renovations, roof repairs, HVAC replacement and repairs and interior makeovers.
Ytech’s management and marketing plan for this project has resulted in above-average returns for the submarket and a net operating income increase of 26 percent since acquisition.