Sentinel Real Estate Corp. has acquired The Retreat at Cinco Ranch, a 268-unit garden-style community in Katy, Texas. According to Yardi Matrix data, previous owner Electra America sold the asset for $68.3 million.
Built in 2009, the community comprises 12 three-story buildings and consists of one-, two- and three-bedroom apartments averaging 943 square feet.
Interiors feature granite countertops, walk-in closets and full-sized washers and dryers. The 2019 renovations included adding modern appliances, quartz countertops, new cabinetry in the kitchen and bathroom, and wood-style flooring in living areas for the community’s first-floor units. Sentinel now plans to expand the capital improvement program to replace legacy finishes on the second and third floors.
Common-area amenities include a clubhouse, a swimming pool, a fitness center, a business center, a lounge with a kitchen and coffee bar, a playground with a picnic area and grilling stations.
Located at 3306 S. Fry Road, the property is in the Katy Mill Independent School District, 26 miles west from Houston and has access to the Grand Parkway and Interstate 10, connecting the residents to the metro district. Dining and retail options are available in the surrounding area, along Mason Road and Westheimer Parkway.
Sentinel currently owns three other assets in the Houston market, 300 Sage Apartments, The Lodge at Cypresswood Apartments and Everlee Apartments. The company is present in other Texas markets as well, having recently acquired a 164-unit community in downtown Dallas.