HOUSTON--Los Angeles-based Nimes Capital, the private investment arm of Nazarian Enterprises, has acquired three adjacent multifamily properties totaling more than 1,100 units in the Spring Branch submarket.
The communities are Kempwood Hollow, Kempwood Place and Spring Shadows; Nimes purchased the assets in a joint venture with Unilev Capital Group from seller Bridge Investment Group.
With a plan to renovate the units, the firm will also update the exteriors and improve common-area amenities. Despite the market's uncertainty about oil, reps for Nimes were undeterred about making the investment.
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