CHICAGO--Northbrook, Ill.-based Prime Property Investors (PPI) has designated Greystar Real Estate Partners to oversee leasing and property management at Estates at Fountain Lake, a 13.6-acre luxury rental community southwest of Houston that consists of 14 three-story garden-style buildings with a total of 306 units.

Located on Fountain Lake Drive, just east of South Dairy Ashford Road, the community is in Fort Bend county. PPI acquired the property from Dallas-based Trammell Crow Residential (TCR) earlier this year and is in the process of executing a “value-add” strategy to further enhance the property to meet the increasing demand for upgraded luxury apartments in the area.

According to Barbara J. Gaffen, co-CEO of PPI, hiring Greystar was step one in elevating the community to one of the most exclusive luxury rental properties in the area.