HOUSTON – (Realty News Report) – Resia Ten Oaks, a 573-unit apartment high-rise in the Energy Corridor, has been sold along with another Texas property in a nearly 900-unit portfolio deal.
Spirit Investment Partners, in partnership with global alternative investment firm Strategic Value Partners, announced the off-market acquisition of the 895-unit portfolio from Resia, the U.S. multifamily real estate and modular manufacturing subsidiary of Brazilian development group MRV&Co.
Completed in 2024, Resia Ten Oaks consists of three 12-story towers at 18036 Park Row Drive. The development is part of Wolff Companies’ 83-acre Ten Oaks mixed-use campus in West Houston. The campus includes Texas Children’s Hospital West Campus, Houston Methodist West Hospital, two hotels, and The Vic at Park Row, a 363-unit apartment community developed by Houston-based Hunington Residential. Major employers including Wood Group, BP, and Shell are nearby.
Also purchased was Resia Rayzor Ranch, a 322-unit community completed in 2024 in Denton, northwest of Dallas.
The communities were delivered in high-growth Sun Belt markets “during a temporary period of elevated new supply that ultimately impacted lease up and operating performance,” according to the buyer.
“This transaction reflects our strategy of investing in high-quality real assets where strong underlying fundamentals are overshadowed by periods of market dislocation,” said Mike Ungari, Global Head of Real Estate at Strategic Value Partners, in an announcement. “Furthermore, by partnering with experienced operators like Spirit, to source proprietary opportunities, we are able to move quickly on compelling investment opportunities and create long-term value through a combination of thoughtful capital and active asset management.”
Spirit will rebrand and lease up the properties, while its Spirit Management Services affiliate will take over as property manager.
The sale comes as there are signs of improvement in the multifamily market.
Another Energy Corridor complex recently broke ground just near Interstate 10 and Highway 6 just a few miles away from Resia Ten Oaks. OHT Partners is developing Park Row, a 360-unit, three-story garden style community at 14192 Park Row Blvd.
Houston apartment demand rose by 7,008 units in the second quarter, according to Colliers. Occupancy, meanwhile, stood at 90.9%, up from 89.2% a year ago as more than 4,500 new units came online during the quarter.
The number of units under construction totaled 13,274 in the second quarter, a drop from 18,775 in Q2 2025, according to Colliers.
Jamie Leachman and Carter Wroblewski of JLL arranged acquisition financing from Oaktree for the Resia portfolio. Tom Scott of Spirit Investment Partners sourced the transaction.
“We’re finding more opportunities like these, where well conceived projects ran into oversupply headwinds and struggled to reach stabilization,” said Tom Scott, principal, acquisitions at Spirit. “In partnership with SVP, we have the capital and the flexibility to solve these problems for property owners quickly and discretely for the right opportunities. This is only the beginning of what we expect to be an active period of growth for Spirit.”
Boilerplate: Strategic Value Partners is a global alternative investment firm that focuses on special situations, private equity, opportunistic credit, and financing opportunities. The firm, established by Victor Khosla in 2001, manages $21 billion in assets under management. The company main offices in Greenwich, Conn., New York, and London.
Founded by Scott Zwilling and David Nachman in 2011, Spirit Investment Partners is a privately held, vertically integrated multifamily investment, development and management company based in Stamford, Conn. The company has acquired or built over 7,000 multifamily units throughout the United States with an estimated value of over $1.2 billion.
Aug. 3, 2026, Realty News Report Copyright 2026
Feature image: Resia Ten Oaks apartments. Spirit Investment Partners courtesy photo.
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File: Energy Corridor Apartment Towers Sold in 900 Unit Deal