Venterra Realty revealed in a press release that it has bought Stoneridge on the 8 in Houston, previously known Advenir at Stone Park.

The 480-unit, three-story multifamily neighborhood is positioned along Beltway 8 in Houston and was constructed in two phases between 2004 and 2007, according to an El Paso Inc. report.

"Houston is one of the fast-growing metropolitan areas in the United States, with its population growing 20.3% from 2010 to 2020 ranking top three nationwide," Venterra Realty Chairman, Andrew Stewart stated in the press release, "So, Stoneridge on the 8 is naturally a valuable investment to be added to the growing Venterra portfolio in this top-performing market."

Additionally, Venterra announced that it will apply its resident-focused programs to the newly acquired complex, including the "Live it. Love it. Guarantee", the 48-Hour Maintenance Guarantee and SMARTLEASING.

"Houston is our headquarters and the city that housed the first properties Venterra managed over 20 years ago," Venterra Realty's CEO John Foresi stated. "We have seen first-hand the growth potential for this area of the country and are excited to expand our portfolio in a city we are confident will provide a great return on investments."

Venterra Realty was founded in 2001 and manages nearly 70 neighborhoods and over 20,000 residential units throughout 13 major U.S. cities.

The company, which has conducted real estate deals totaling $7.2 billion, currently maintains a portfolio of roughly $4.0 billion in multifamily real estate assets.