Vista Companies Sell 16.7-Acre Tract at The Reserve to Houston Developer Martin Fein Interests, Ltd.
HOUSTON (JANUARY 18, 2011) – Vista Equities Group and Vista Private Equity Group, LLP announce the sale of 16.7 acres of The Reserve at Grand Parkway site to Martin Fein Interests, Ltd. (MFI). The Reserve will be home to MFI’s newest project – Verona at The Reserve. The Class A multi‐family apartment
community is scheduled to open later this year. The Reserve at Grand Parkway is located just off the Grand Parkway (Hwy. 99) and Kingsland Boulevard in Katy, Texas.
Verona at The Reserve will consist of 356 luxury apartment homes. The two and three bedroom homes will offer open floor plans ranging in size from 709 square feet – 1,696 square feet with individual patios and balconies. Stylish interiors will provide the perfect blend of sophistication, comfort and convenience. Each home will feature travertine countertops, islands with pendant lighting (select units), stainless steel appliances, custom kitchen cabinets, as well as built‐ins (select units) and full‐size washers and dryers. Cable and dedicated high‐speed internet connections will be included, along with complimentary WiFi throughout the common areas. Attached (select units) and detached garages and surface and carport parking will also be available.
Community amenities will include a state‐of‐the‐art fitness club, yoga and Pilates studio, massage rooms, movie theater, Wii Game Lounge, conference room and business center, cyber café and a resortstyle pool with private cabanas and fire pit. Lush landscaping, lakes and water features will create a
picturesque backdrop for the new development.
The architect for the Verona at The Reserve is Steinberg Design Collaborative AIA, LLP. Interior design provided by Moore Design Group out of Dallas, Texas. Westchase Construction, Ltd., an affiliate of Martin Fein Interests, Ltd., will serve as general contractor.
The Reserve is a $200 million mixed‐use project anchored by the planned 27.4‐acre St. Luke’s Episcopal Hospital System campus. The Reserve represents the second significant investment in the Katy area by The Vista Companies with acquisition, infrastructure and related costs exceeding $30 million. Vista
Equities Group, along with Denver‐based equity partner, Amstar Group, has completed Phase I of LaCenterra at Cinco Ranch. The three‐phase, mixed‐use town center development is scheduled for completion Fall 2012 and will include approximately 700,000 square feet of retail, office and residential space. LaCenterra represents an investment of over $150 million and the creation of over 1500 jobs.