The property company Elandis has acquired a 1,000 unit portfolio in four separate multi-family communities in Houston, Texas. The $50 million deal encompasses the Kirkwood Landing in South Kirkwood Road; The Forest in Imperial Valley Drive; Valencia at Spring Branch in Long Point Road, and Pine Creek in Maxey Road. The properties will be managed by Elandis’s wholly-owned subsidiary, Elandis Property Management. The company has a total of 2,500 residential units and more than 5.8 million square feet of commercial and residential real estate developed or under development.
“This investment represents a unique blend of secure assets with mature cash flows, providing a strong return on investment,” comments Frank Espinosa, CEO of Elandis.
