Venterra Real Estate sold Bala Woods in Kingwood, a 261-unit community in the Kingwood area of Houston, after more than eight years of ownership. Cantor Fitzgerald purchased the property, with Citibank providing a $27.5 million loan for the acquisition, according to Montgomery County records.
Spanning 17.4 acres, the 2000-built community features 34 buildings and a mix of one-, two-, and three-bedroom apartments, ranging from 780 to 1,406 square feet.
After extensive upgrades, all units have been outfitted with smart technology, new countertops in kitchens and bathrooms, washers and dryers, and Kolay wood plank floors. Common facilities include a dog park, business center, indoor cabana, fitness center, two swimming pools, and a spa.
Located at 23200 Forest N. Drive, the community is less than half a mile from Interstate 69, connecting it to Houston. Many restaurants are located nearby, as well as several retail outlets, such as Kroger Marketplace and HEB, which are within one mile of Bala Woods. Kingwood Medical Center – South Tower is also less than a mile and a half from the community.
Venterra’s portfolio includes approximately 70 properties in 13 states. Late last year, the company sold Falcon Square in Independence, a 379-unit community in Winter Garden, Florida, for $116.8 million.