However, unlike previous buys, made, Ytech won't have to really spend much on upgrading the class B assets. "The strategy we usually implement involves redevelopment of the properties, then leasing them up to stabilization," he says. But this particular portfolio, which had been owned, in part, by the Lynd Co. (and will be managed by the same), already had undergone rehabilitation. "They're stabilized, really good assets," Yidios Char comments, adding that Ytech is a long-term asset holder.

With a presence in Texas, Yidios Char says he's eyeing other potential buys in the state, though indicated nothing is in the pipeline as yet. He'd love to see more buys in Houston, and isn't shy about his enthusiasm for Oil City.

"We target areas with stabilization and growth," he says. "We saw that Houstopn is a good placed to live in; such places are attractive not only to people, but to businesses as well. Ultimately, that has a huge impact on society and the economy."