Terra - Sold


19606 Park Row Drive
Houston, TX 77084
280 Units sq. ft.

Hayman Properties purchased Ryan’s Pointe, in Houston, Texas, in June of 2011.  The property was acquired as a “Value Add” opportunity. At that time, the mutli-family property was a C+ quality asset in an A- location.  It had significant deferred maintenance, occupancy of just 82% and an extremely challenging tenant profile.

The Hayman Properties team recognized the repositioning potential in Ryan’s Pointe and committed to an overall re-branding and asset makeover program.  Advantage Property Management, a Hayman Properties sister company, took control of onsite, day-to-day responsibilities of repositioning the asset and turning around its operations.

By August, 2012, Ryan’s Pointe was re-branded as “Terra”.  Most common areas within the multifamily property were successfully re-imagined and renovated:

  • Clubhouse 
  • Leasing Office
  • New Monument Signs
  • Swimming Pool
  • BBQ Area
  • Gym
  • Tennis Courts

New landscaping was used with great success and added to Terra’s curb appeal.  As units became available, many apartments were upgraded with higher grade appliances & finishes.  These tenant upgrades, along with the experienced Advantage Property Management team, proved successful in raising the tenant profile. 

*  Case Studies on Properties (financial data provided as of Q1-2015)
** The property was acquired in June of 2011. Figures shown are per that period.