14220 at Park Row

Houston, Texas

Historical Transaction

Units: 318
NRSF: 291,522
Acquisition Date: 9/30/2014
Status: Sold

14220 at Park Row is a 3-story garden style complex with surface parking situated on a 14.47 acre site.  The property is located in Houston’s Energy Corridor.  The Energy Corridor District includes notable energy firms such as ConocoPhillips, BP, Shell Oil, Wood Group and Citgo.  The District is home to 84,000 employees, 300 companies and 20.3MM SF of office across multiple corporate campuses.  Eleven office buildings totaling 2.8MM SF were delivered from 2012 through 2014, and 23 office buildings are under construction totaling 7.3MM SF within a 10 mile radius of 14220 at Park Row.  The property contains a mix of one, two, and three-bedroom apartments with an average unit size of 917 square feet.


  • Opportunity to acquire a well located Class A- asset in the Energy Corridor.
  • The property includes architectural features reminiscent of recently constructed apartment communities.
  • The Energy Corridor is experiencing a surge in population growth and office development.
  • Target highly paid energy employees working in the Energy Corridor District.

Value Enhancement Strategy

  • Capitalize on the robust demand for apartments by increasing rental rates upon renewal by current residents.
  • Implement focused capital program to address deferred maintenance, renovate existing amenity spaces to include a new pool, fitness equipment and FF&E, and upgrade unit interiors to a quality similar to new construction.
  • Increase rental rates for upgraded units by delivering superior unit interior finishes compared to our competitors at a price point below new construction.
  • Well-capitalized ownership is positioned to provide exceptional responsiveness to market conditions.