Real estate company Thompson Thrift has announced the sale of a 288-unit multifamily property in the Houston suburb of Conroe.

Watermark at Grand Central Park was purchased by the San Diego-based company CEG Multifamily, although the price of the transaction has not been released to the public. The sale was brokered by Walker & Dunlop agent Jennifer Ray.

“The successful sale of Watermark at Grand Central Park speaks to our team’s ability to identify high-growth markets and deliver well-built, Class AA multifamily properties,” said managing partner for Thompson Thrift Residential, Josh Purvis. “We are pleased with the outcome of the transaction and take great pride in our proven ability to create meaningful value for our residents and investors.”

Built in 2021, Watermark at Grand Central Park offers one-, two-, and three-bedroom apartments complete with amenities like in-unit washers and dryers, quartz countertops and luxury stainless steel appliances. Residents of the Watermark will also have access to the swimming pool, cabanas, sundeck, clubhouse, spa, Starbucks bar and recreation room.

Watermark is located within Grand Central Park, putting residents in close proximity to walking trails, lakes and over 1,000 acres of woods. Close access to highways and interstates make the community ideal for residents with commutes.

Conroe’s population has more than doubled since 2000, with the North Montgomery submarket increasing by 15.5% since 2021. Watermark may serve as an answer to the suburb’s ever growing need for housing.

Thompson Thrift has invested over $3.8 billion in rental communities since its founding in 1986. The company covers residential and commercial sales, as well as new construction.