Memphis-based property management company Fogelman Properties has purchased The Moorings, a 201-unit apartment waterfront community in Houston.
The Moorings offers newly upgraded one- and two-bedroom apartments with rental rates ranging from $897 to $1,565. According to a press release, the recently acquired property is 95% occupied and will be managed by Fogelman.
Community amenities include waterfront views, Amazon hub lockers, a 24-hour fitness center and a resort-style pool. The property is located near major employers in the metro area, including the Port of Houston, Webster Medical Center, NASA and Bayport Terminal.
“The Moorings is located in a distinguished seaside community on Clear Lake in League City, Texas, a prime Houston submarket,” said Mike Aiken, senior vice president of investments at Fogelman. “With access to top employers and school systems, as well as dining and entertainment, the community is well-suited to access boating and recreation literally at your doorstep. As active investors and seasoned property managers, we look forward to expanding our footprint in the Greater Houston area.”