Price Realty Acquires Reserve on Kingsland Apartments
Price Realty Corporation announced that it has acquired The Reserve on Kingsland in Katy, Texas, a 382-unit, Class A multifamily property. Originally built in 2020, The Reserve on Kingsland adds to Price’s growing Houston footprint, bringing the total to five communities across the metro, two in Katy, two in Memorial, and one in Richmond. To date, Price Realty has owned a total of 7,500 units in the greater Houston area.
“The Reserve on Kingsland is an outstanding addition to our portfolio as it offers Class A quality in one of the premier locations in Katy, just outside of Cinco Ranch,” said Mike Ochstein, founder and President of Price Realty. “Exemplifying the type of asset that Price Realty is expert at sourcing and acquiring—well-located, high-quality communities with upside growth potential—we expect The Reserve at Kingsland to deliver outsized returns to investors, as we have for more than three decades at Price Realty.”
Located at 23403 Kingsland Boulevard, The Reserve on Kingsland features 11 three-story buildings with unit sizes ranging from one to three bedrooms. The community includes two luxury pools; a 24-hour fitness center; dog park with wash station; a business center with private workspaces; and club room with chef’s kitchen and game room. The interiors also feature high end finish outs, with granite counters, all stainless-steel appliances, luxury vinyl flooring, walk-in showers and full-size washers and dryers.
The seller, OHT Partners, was represented by Ryan Epstein and Jennifer Ray of Walker and Dunlop. JLL Capital Market’s Debt Advisory team, led by Senior Managing Directors Andy Scott and Michael Cosby, arranged the seven-year, fixed rate agency financing for Price Realty.
After initially evaluating The Reserve in 2024, Price Realty reapproached the seller this year. “We have a seasoned management team that is expert at identifying where and when to add to our portfolio. Given the market uncertainty over the past year, it took some time to make this acquisition, but we are excited to add such an exceptional asset to our portfolio, especially when the market appears ready for another strong season of growth.”
About Price Realty Corporation Price Realty Corporation (PRC) has been a trusted multifamily investment and management company for over 30 years focused on investment opportunities in the core Texas markets. PRC currently owns and operates over 5,500 units throughout Texas with a Houston portfolio comprised of 5 class-A properties totalling over 1,700 units, visit PriceRealtyCorp.com.