Amenities at Pine Lake Village Apartments include a swimming pool, a dog park, a playground and covered parking.[/caption]

Pine Lake Village Apartments, located at 1325 Greens Parkway, Houston, will undergo major renovations under its new management, Three Pillars Capital Group. The Houston-based real estate investment firm announced its acquisition in a July 2 news release.

The 96-unit apartment has outdated units and rents 20%-25% below the market, according to Three Pillars Capital Group. The firm plans to spend about $1 million to renovate the property, although plans have not yet been finalized, according to the news release. 281-875-0160. www.pinelakevillageapts.com