HOUSTON--Gaia Real Estate, in conjunction with its partners Menora Mivtachim Insurance and Amitim Senior Pension Funds, has acquired a five-property, 1,376 unit portfolio located in Houston, the firm tells GlobeSt.com exclusively.
“The properties are located in areas Gaia knows well and operates other properties,” says Danny Fishman, Gaia managing partner. “We believe there is a lot of upside in the properties by upgrading them and renovating the units and the amenities.”
The class B multifamily, garden-style properties are concentrated among two locations, the Spring Branch/Bear Creek and Champions East submarkets. The submarkets possess strong fundamentals, a solid and diverse employer base and well-regarded public schools, say reps for Gaia. In addition, the assets are strategically located close to many of Gaia's existing Houston properties.
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