Pine Lake Village is a Class B+ asset located in NW Houston. It was purchased in an off market transaction at an attractive price. Previous owner was out of town and it was 3rd party managed. They ran it very poorly. Rents were 20-25% below market. This represented an opportunity to acquire an asset at a significant discount to replacement cost and through a series of low-moderate cost rehab, implement an attractive interior package to push rents significantly.