HOUSTON-In a move to bolster a local presence, Del Rey Urban Capital LLC of Santa Monica, CA, has opened a satellite office on Post Oak Boulevard. The company is a real estate fund manager and advisory firm focused on acquiring and financing distressed residential properties, and is aggressively seeking out distressed residential properties.

A spokeswoman for the company tells GlobeSt.com that Scott Chaplan, managing director of DRU's funds and executive chair of Urban Group of Cos. is overseeing the local office. “Our decision to enter the Houston market was based on attractive demographics, the region's strong job market and the relatively low cost of living,” Chaplan says in a prepared statement.

UCG is an integrated, multi-service firm that structures financing as well as acquiring, developing, buying, selling and brokering real estate. UCG also rehabilitates and manages multi-unit residential, mixed-use, and office properties.