MSP closed on the acquisition of 20 acres in Northeast Houston to complete the development of a 160 home single family detached rental community. The property is adjacent to, and will share the amenities of, a 2,200 home master-planned single family for sale community. The homes will be two and three bedrooms and will range from 1,100sf to 1,500sf with rental rates in line with surrounding multi-family projects. The neighboring master-planned community is being built out by 16 national and regional homebuilders with homes for sale from $200,000 – $500,000. The community boasts numerous amenities including a 2-acre Crystal Clear Lagoon, fitness center and clubhouse and walking trails throughout.