Lion Buys Houston Property

HOUSTON – (Realty News Report) –  Lion Real Estate Group, LLC , a Dallas-based real estate firm focused on acquiring multifamily properties, has purchased the Stone Creek at Old Farm apartments in Houston..

The 190-unit, Class B+, multifamily property  is located at 8585 Woodway Drive, just west of Voss Road, north of Westheimer Road and south of Buffalo Bayou.

The off-market acquisition,  Lion’s first in the Houston market, was made on behalf of its Fund III investment vehicle.

Lion Plans to Acquire More Multifamily

“Our business plan is to complete a moderate renovation with updated finishes to every unit at the property and bring rents to market. We will continue acquiring value-add communities in the Houston MSA, as well as our other target markets of Dallas-Fort Worth, Charlotte, Raleigh-Durham, Phoenix, Austin, and others,” said Jeff Weller, Co-CEO of Lion.

Lion, founded in 2007 by Jeff Weller and Mory Barak, has acquired more than 14,634 units nationwide since its inception.

“Each of Lion’s core and target markets exhibit positive macro trends such as robust population growth, income growth, and favorable affordability metrics relative to coastal and other major metros. We feel that our markets are well positioned to continue their upward trajectory as more people continue to move to them. This will result in strong rent growth and further value-add opportunities,” said Mory Barak, Co-CEO/Co-Founder of Lion.

At its newly acquired Houston apartments, Lion plans to implement a light renovation program at the 1999-built Stone Creek at Old Farm community, including new countertops, backsplashes, lighting packages, and stainless-steel appliances where necessary. Exterior and amenities upgrades have already been completed at an asset that was in well-maintained condition.

Ben Kriegsman is Director of Acquisitions at Lion. The Stone Creek at Old Farm is Lion’s fifth acquisition in its Fund III.

Last year, a Lion fund acquired the 354-unit Surround Apartments in Irving, Texas from Nitya Capital, a Houston-based investment firm founded by Swapnil Agarwal. At that time Nitya said it intended to sell some 40 percent of its properties.


Oct. 11, 2024 Realty News Report, Copyright 2024

Photo Courtesy Lion Real Estate Group

Mark Your Calendar

Downtown Houston + will present its State of Downtown Annual Meeting on Oct. 16 at 11 a.m. to 1:30 p.m. at the Hilton Americas, Downtown 1600 Lamar St. Keynote speaker: General Stan McChrystal. Information:

THE RALPH BIVINS PROJECT PODCAST

LISTEN: THE RALPH BIVINS PROJECT with Kris Larson of Downtown Houston +

LISTEN: THE RALPH BIVINS PROJECT with Jim Carman of Howard Hughes Holdings

LISTEN: THE RALPH BIVINS PROJECT with Jeff Havsy of Moody’s Analytics

LISTEN: THE RALPH BIVINS PROJECT with Sam Scott of CommGate

LISTEN: THE RALPH BIVINS PROJECT with John S. Moody, Jr. of Moody Law Group

LISTEN: THE RALPH BIVINS PROJECT with Scott Martin of Granite Properties

LISTEN: THE RALPH BIVINS PROJECT with Robert Clay of Clay Development

LISTEN: THE RALPH BIVINS PROJECT with Alma Zavala of CommGate

LISTEN: The RALPH BIVINS PROJECT with Adam Lair of Partners Capital

LISTEN: The RALPH BIVINS PROJECT with Jake Donaldson of Method Architecture

LISTEN: The RALPH BIVINS PROJECT podcast with Bill Baldwin of BLVD Realty

LISTEN: The RALPH BIVINS PROJECT podcast with Johnny Cruz of RAMSA

LISTEN: The RALPH BIVINS PROJECT podcast with John Breeding of Uptown Houston

Listen: THE RALPH BIVINS PROJECT podcast with Dean Strombom of Gensler

LISTEN: THE RALPH BIVINS PROJECT podcast with Lou Cushman of Cushman & Wakefield

LISTEN: THE RALPH BIVINS PROJECT podcast with Edward Griffin of Griffin Partners

File: Lion Buys Houston Property Nitya Capital Lion Buys Houston Property Old Farm, Swapnil Agarwal, Mory Barak

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