HOUSTON – Ytech International, a Miami-based multifamily company has purchased five Houston apartment projects for $35 million. The seller of the 1,312-unit portfolio was LB-RPR I Asset Holdings LLC. “Ytech’s entry into the Texas multifamily real estate market and Houston, in particular, is an important milestone for the company as we embark upon a nationwide expansion from our base in Florida,” President and CEO Yamal Yidios Char said. “The Houston acquisition is a great fit for our portfolio, and we are confident that it will deliver very attractive returns and become a market leader in its niche.”
The portfolio consists of:
- The 264-unit Kirkwood Landing, 9850 S. Kirkwood Rd.
- The 300-unit Pine Creek Apartments, 470 Maxey Rd.
- The 328-unit Sunset Crossing, 10630 Beechnut St.
- The 192-unit Forest Apartments, 22820 Imperial Valley Dr.
- The 228-unit Valencia at Spring Branch, 9550 Long Point
Ytech owns and operates a comprehensive real estate portfolio in South Florida and Texas valued at over $300 million made up of 3000 multifamily apartments; single family home subdivisions; three retail assets totaling more than 200,000 sf ; an ownership interest in a 10,000-acre master planned community and 500,000 sf of class A and B office space.