Investcorp high-fives Texas for $100M

HOUSTON – Investcorp recently acquired a portfolio of five multifamily properties in Texas, three of which are in Houston. The entire portfolio was purchased for about $100 million, consists of 1,900 units, and has a collective occupancy of 91 percent.

The properties include:

• Austin — Bristol Square at 2336 Douglas St. — 336 units; one- to two-bedroom, 527- to 892-sf units from $655 to $925 per month;
• Bedford — Waters Park at 1401 Shady Ln. — 168 units; one- to three-bedroom, 700- to 1,300-sf units from $625 to $1,195 per month;
• Houston — Villages of Meyerland at 8900 Chimney Rock — 714 units; one- to two-bedroom, 600- to 1,000-sf units from $565 to $790 per month;
• Houston — Cottages of Champions Forest at 14222 Wunderlich Dr. — 300 units; one- to two- bedroom, 534- to 1,107-sf units from $515 to $890 per month; and
• Webster — Villas at Edgewater at 200 Water St. — 414 units; one- to three-bedroom, 667- to 1,521-sf units.

Read more at the Houston Business Journal.