01/04/2023
[Sold in Apr 2018]
GPI acquired Summerstone in July 2014. For a 3.75-year holding period, it generated 353.25% total ROE and 94.32% annualized ROE. Summerstone is a 1984 built, 242‐unit, 2 story, Class B garden‐style apartment community located in Houston, Texas. Summerstone is positioned in a very popular and convenient Southwest Houston rental submarket with plentiful, long-term demand generators. Its location gives residents multiple commute options to Houston’s largest employment centers. Residents are within 20 minutes of Sugar Land (40,264 jobs), Westchase District (81,000 jobs), Galleria (83,000 jobs), Energy Corridor (84,424 jobs), and Downtown Houston (150,595 jobs).
*Past performance is not indicative of future results.