Joe Lubeck & Elizabeth Roy Acquire 292-Unit Multifamily Property At 11575 Pearland Parkway

The multifamily property involved in this transaction is located at 11575 Pearland Parkway in Pearland, TX. The asset consists of 292 units and was built in 2009. It is set to undergo its first major capital improvement program aimed at increasing its value in a submarket with limited new apartment supply.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: Not specified
• Market: Pearland, TX
• Units: 292
• Buyer: Joe Lubeck & Elizabeth Roy
• Buyer’s Company: American Landmark Apartments
• Previous Name: Park Avenue at Boulder Creek
• New Name: Toscana Parkway
• Number of Houston-area assets acquired by buyer: 14

Joe Lubeck and Elizabeth Roy, representing American Landmark Apartments, finalized the acquisition of the property as part of their expansion strategy in the Houston area. This investment reflects a targeted effort to capitalize on the value-add opportunity presented by the property and its surrounding market conditions.