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.