Houston: Tampa Firm Makes Apartment Play

HOUSTON, – In American Landmark Apartments, a Tampa, based multifamily company, purchased the 292-unit Park Avenue at Boulder Creek in southeast Houston.

The apartment complex, located at 11575 Pearland Parkway will be the firm’s 14th asset in the Houston area.

“Houston continues to distinguish itself as one of the nation’s strongest multifamily investment markets because of its population growth, diverse employment base and long-term economic resilience,” said Elizabeth Roy, Chief Investment Officer at American Landmark Apartments. “With no new deliveries in the submarket, we see a clear opportunity to invest behind the property’s fundamentals—executing the first capital improvement program since the community was built and bringing American Landmark’s operational expertise and value-add approach to enhance the resident experience for years to come.”

The new owner has renamed the community “Toscana Parkway.” Built in 2009, Toscana Parkway offers a mix of one-, two- and three-bedroom apartment homes.

The property is in Houston, near the eastern city limits of Pearland. Apartment occupancy in the neighborhood is around 95%.

The Transwestern real estate firm reported that apartment leasing velocity increased in Houston recently. Citywide occupancy rose to 91% in the second quarter, a 2% gain from a year ago, as stated by Transwestern’s second quarter multifamily report.

Compared to Texas’s other major metros, Houston led occupancy across the board, followed by Dallas-Fort Worth (90.6%), San Antonio (89.5%), and Austin (8.6%), Transwestern said.

Houston’s average asking rent ticked up in the second quarter to $1,252. That was down 2% from a year ago, but still better that at the beginning of 2026.. More landlords were offering concessions in the second quarter. Transwestern reports 55% of Houston apartment complexes are offering some level of concessions to lure new tenants.

In announcing its purchase, American Landmark’s press release cited these upside facts: the Greater Houston metropolitan area surpassed 7.9 million residents in 2025 after adding 126,720 new residents, marking the largest population gain of any U.S. metropolitan area. The (Houston) region’s diverse economy is anchored by nationally recognized healthcare, energy, aerospace, manufacturing and logistics industries, creating sustained demand for high-quality multifamily housing.”

In early August, Spirit Investment Partners, in partnership with Strategic Value Partners, purchased the 573-unit Resia Ten Oaks apartments in Houston’s Energy Corridor. The seller was Resia, the U.S. multifamily real estate subsidiary of Brazilian development group MRV&Co.

In July, In Oht Partners started work on Park Row, a 360, unit apartment project on 14 acres at 14192 Park Row Blvd. in the Energy Corridor about 20 miles west of downtown Houston.

American Landmark, based in Tampa, Fla., owns and operates more than 36,000 apartment units. American Landmark focuses on purchase and management of value-add multifamily properties located in high-growth markets across the U.S. Sunbelt, including Florida, Texas, Georgia, North Carolina, South Carolina, Tennessee, Arizona, and Virginia. It is ranked as #27 on the NMHC Top 50 Largest Apartment Owners.