PEARLAND, TX—CBRE's Multi-Housing Group says Inland Real Estate Acquisitions, Inc. has purchased Retreat at Shadow Creek Ranch in Pearland. The newly constructed, 370-unit apartment complex is located at 2500 Business Center Drive and is adjacent to Shadow Creek Ranch, a master-planned community.
Ryan Epstein of CBRE in Houston represented the seller, McCann Realty Partners, in the transaction.
Since its completion, the class A complex has had a rapid lease-up to 90% occupancy. Move-ins averaged more than 40 units per month from February through October, 2013.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
