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Changes Forthcoming for 242-Unit Summerstone

HOUSTON-New owner Sterling American has slid in a new property manager and is fine-tuning renovation plans for the complex at 9301 Dairy View Lane in Houston. Repositioning is in order since rent averages just $542 per month.

By Jennifer Brenner Andrade | Updated on May 03, 2002

HOUSTON-Sterling American Property Inc. has acquired the Summerstone Apartments, a 242-unit complex at 9301 Dairy View Lane in Houston. Transcontinental Realty Investors of Dallas acquired the complex, valued at $6 million, in 1993, according to county tax records.

Sterling American is an investment fund of Sterling Equities Inc. and American Securities Capital Partners. The fund owns some 2,800 units in Houston, Austin, San Antonio and the North Texas town of Tyler.

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