Kaplan Takes Over Foreclosed GFI Properties

HOUSTON-Kaplan Management Co. has taken over management responsibilities for three foreclosed multifamily properties previously owned by New York City-based GFI Capital. The three properties, which total 1,375 units, include Cambridge at City View, City View Place and Springfield at City View.

These class C properties are the first round of GFI Capital assets in Houston that are scheduled for foreclosure or receivership, according to local sources. According to its website, the company owns 12 more City View-branded properties, all of which will be going back to the lender, sources report. GFI Capital did not return GlobeSt’s call to discuss the distressed properties.