KATY, TX – Sentinel Real Estate Corporation announced that it has bought The Retreat at Cinco Ranch, a 268-unit garden-style apartment community in the desirable Cinco Ranch submarket of Katy, TX, just west of Houston. The property represented an opportunity for Sentinel to buy a high-quality asset in a rapidly growing market supported by strong fundamentals.
Originally constructed in 2008, The Retreat at Cinco Ranch comprises 12 three-tale residential buildings consisting of one-, two- and three-bedroom apartments averaging 943 square feet. The first floor of the complex underwent a substantial renovation in 2019, which included the installation of modern appliances and upgraded finishes including new kitchen and bathroom cabinetry, quartz countertops, the addition of tile in kitchen backsplashes and bathroom showers, and wood-style flooring in living areas.
Legacy unit finishes at the property include granite countertops and carpet in living areas. All units include track and pendant lighting, walk-in closets and full-sized washers and dryers. Community amenities include a modern clubhouse with a fitness center, an indoor cycling studio, a resident lounge with a kitchen and coffee bar, a business center, and package lockers, a resort-style swimming pool with a sundeck and lounge area, outdoor grilling stations and a playground with a picnic area. Following the transaction, Sentinel intends to realize additional value by expanding the capital improvement program to replace legacy finishes on the second and third floors.
With The Retreat, we recognized a compelling opportunity to buy a high-quality asset in the beloved Cinco Ranch submarket, a master-plotted community that remains well insulated from new supply, said Michael Streicker, President of Sentinel. The submarket has seen significant rent and population growth, with rents increasing by 16.3 percent last year. We expect that upgrading the remaining 172 units will position the property for continued success.
The Retreat at Cinco Ranch is optimally located amid some of Houston s most upscale residential neighborhoods and within the top-ranked Katy Independent School District, enjoying access to several lifestyle, retail and restaurant destinations along Mason Road. The property offers convenient access to Houston s energy corridor along Interstate 10, which is home to the North American Headquarters for Shell, CITGO and BP, among others. Major employers in the area also include MD Anderson Cancer Center, Texas Children s Hospital and GEICO.
Sentinel has been active in the Houston market throughout its 53-year history and currently owns and operates three properties nearby, 3000 Sage Apartments, The Lodge at Cypresswood Apartments and Everlee Apartments, providing enhanced competitive positioning in the submarket. The firm will continue to leverage its market expertise and deep industry relationships to identify attractive investment opportunities and expand its portfolio in the region.

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ALEXANDRIA, VA – A joint venture between USAA Real Estate and Lowe, a national real estate investor, developer and manager, announced the completion of Park + Ford, the adaptive-reuse of the former three-building Park Center office complex into a 435-unit contemporary apartment community with 115,000 square feet of office. Located at 4401 Ford Avenue in Alexandria, Virginia on the I-395 Corridor, the community is proximate to Washington, D.C. and other area business centers as well as a wealth of shopping, dining and entertainment destinations.
The 568,000-square-foot Park Center office complex consisting of two 14-tale office towers and a four-tale office building constructed atop a 1,400-space parking garage was bought by the joint venture in January 2018. Drawing on its experience with a prior office-to-residential conversion at The George in Wheaton, Maryland, Lowe developed a program to capitalize on the traditional office attributes of the towers, such as 10-foot ceilings and large floorplates, to transform the two 14-tale office buildings into spacious apartment homes with a large array of desirable community amenities.
Park + Ford offers apartment residences larger than those which are typically developed as new construction. At the time we bought the property, prior to the pandemic, we identified growing interest among young professionals, many beginning to couple-up and start families, for an apartment community with more room for working and family along with style and convenience, said Mark Rivers, executive vice president, Lowe. We chose to proceed with construction during the height of the pandemic in 2020 and found we could contract at favorable costs. We also avoided delays from supply chain disruptions, which started later in the pandemic. As we started welcoming residents, we found that the pandemic only fueled demand for precisely the environment and residences that we have made at Park + Ford. In fact, the first leases signed were for the one bedroom plus den and two-bedroom units, when historically smaller units lease first.
Park + Ford offers apartments configured as studio, one-bedroom, one-bedroom plus den, two-bedroom, and two-bedroom plus den floorplans, many with private terraces or balconies. All residences feature wood plank floors, quartz countertops, energy efficient appliances including in-unit washers and dryers, and floor-to-ceiling windows making a bright and airy living environment.
Communal spaces at Park + Ford evoke the atmosphere of a boutique hotel with a high-end contemporary and comfortable design in warm tones complemented by splashes of eye-catching, colorful décor. Gathering spots are abundant and engaging; the Lobby; Co-Working area; Social Lounge with interactive multi-sport game simulator; Club Room with kitchen, dining area, televisions and fireplace; and the sunny, plant-filled Conservatory are all fitted with a variety of seating options for casual gatherings, remote work or community-organized events. Residents also have access to a private dining room and catering kitchen for meetings or social gatherings, while children have their own space at Park + Ford with a Kids Room stocked with toys and games.
Park + Ford offers inviting outdoor spaces including The Yard, a large landscaped area with a bocce court and nearby sundeck with chaise lounges, misters and a waterfall fountain. The plaza offers outdoor dining, grilling stations, fire pits and private cabanas, while the expansive 5,000-square-foot, resident-only fenced dog play area provides shade, seating and pet water stations.
Convenience and service are hallmarks of Park + Ford with a host of app-driven, on-demand services such as housekeeping, laundry and dry cleaning, package notification and storage including refrigerated cases for perishable deliveries, and away-from-home care. A concierge, lobby coffee bar and self-service grab-n-go market round out the community s hospitality-focused experience.
A highlight at the property for residents and the community is the 55,000-square-foot XSport fitness club in the adjacent four-tale building. The well loved fitness club, which is open to its members 24 hours a day, seven days a week, offers an array of classes, state-of-the-art equipment, an Olympic-size indoor swimming pool, spa and basketball court. A Spanish-immersion daycare, Tierra Encantada, is scheduled to open in the complex in Summer 2022.

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SAN ANTONIO, TX – Los Angeles-based Orion Real Estate Partners announced that it has bought Remington Ranch, a garden-style apartment community in San Antonio, Texas. Orion bought the 180-unit apartment community in June 2022 and plans to invest approximately $2.6 million in interior and exterior improvements.
The Property sits on an expansive 7.4-acre site, with ample amenities including a fully redesigned clubhouse and business lounge/coffee bar, a new fitness center, and a pool with a free-standing cabana. Built in 2008 and with 80% of the units in classic condition, the property is an ideal candidate for a value-add unit renovation program to drive premium rents while remaining an affordable alternative to new product in the submarket.
This is Orion’s eighth acquisition in the central Texas corridor, spanning from Austin to San Antonio, and the firm is focused on expanding its portfolio in the area. Orion has a favorable long-term outlook on central Texas and expects that the corridor will continue to outperform the nation in both job and population growth.
CBRE Multifamily Capital provided an acquisition loan through East West Bank, and Orion will utilize property management company Anterra. Anterra currently manages 1,074 units for Orion in San Antonio.

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