(To read more on the multifamily market, click here.)

NEW YORK CITY-Locally based Prescott Capital Management LLC partnered with Chicago and El Paso-based TVO Realty Partners to acquire a multifamily portfolio in the Gulf Coast region. The nine-property, class A multifamily rental portfolio traded for $110 million or approximately $71,000 per unit.

The portfolio consists of 1,550 units in Texas and Louisiana and includes four parcels of land adjacent to four of the properties totaling 27.7 total acres. The occupancy level of the portfolio is approximately 97%. The sellers of the portfolio are affiliates of Houston-based Gross Investments.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.