Multifamily investors add to Houston portfolios


A partnership consisting of Houston-based Better World Holdings and New York-based Crown Capital Ventures has acquired Serenity at Cityside, a 362-unit apartment complex at 6061 Beverly Hill St. The property, to be renamed Aura Galleria, will undergo a $6-million modernization that will include interior renovations and community amenities. Constructed in 1968, the development consists of a mix of one-, two- and three-bedroom floorplans within 32 two-story buildings. The seller was CPEP Beverly Palms, LLC. Last November, the partnership acquired the 449-unit Skylar Pointe Apartments in the Clear Lake neighborhood.

A joint venture of RPM Living Investments and DRA Advisors acquired the 372-unit San Paloma apartments at 1255 Eldridge Parkway in the Energy Corridor. The seller was Blackstone/Livcor. It is Austin-based RPM’s second joint venture with New York-based DRA and 16th acquisition in the Houston area.

Lone Star Capital, an investment firm based in New York, acquired Timberwalk, a 300-unit apartment complex at 5635 Timber Creek Place, just west of Texas 6 in northwest Houston. Chris Young, Joey Rippel, Kyle Whitney, Jeffrey Skipworth, Chris Curry and Todd Marix of Berkadia Houston represented the seller, Dallas-based Performance Properties. Johnny King of Berkadia Houston arranged financing. The property was built in 1983 and has units from 501 to 1,088 square feet.

A partnership between Tranquility Capital, Abundance Equity Partners and Rubio Investors acquired Bridgewater Apartments, a 206-unit apartment complex at 1100 Graham Drive in Tomball. Joey Rippel, Chris Young, Kyle Whitney, Jeffrey Skipworth, Chris Curry and Todd Marix of Berkadia Houston represented the seller, Houston-based Sentinel Capital. Cutt Ableson of Berkadia Houston arranged financing. The property was built in two phases in 1979 and 1982 and has units from 670 square feet to 944 square feet.

Brixton Capital, a real estate investment firm based in Solano Beach, Calif., purchased Regatta Bay,…

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