The Variant Portfolio, a 19-property, 6,681-unit, 5 msf multifamily portfolio in Texas, has been put on the market. Fifteen of the properties are located in Houston and four are in Dallas. The price is to be determined by the market.
Institutional Property Advisors executive director Will Balthrope and Marcus & Millichap senior vice presidents investments Norman Eastwood and Charles Chico LeClaire are representing the seller, Southern California-based Variant Commercial Real Estate.
The portfolio is being marketed as a unique opportunity for a high-yield-oriented investor/operator to create value by repositioning these assets through interior and exterior renovations. The Variant Portfolio provides investors with a large-scale opportunity to acquire a number of true value-add assets in the strong Dallas and Houston markets, says Balthrope.
The properties are:
Broadmoor, 235 units, Houston
Cranbrook Forest, 261 units, Houston
Crystal Springs, 191 units, Houston
Las Palmas, 145 units, Houston
Maxey Village, 409 units, Houston
Oaks of Brittany, 223 units, Houston
Park Texas, 588 units, Houston
Pine Forest, 161 units, Houston
Pines of Westbury, 940 units, Houston
Royal Oaks, 434 units, Houston
Sandpiper, 286 units, Houston
Vista Arbor Square, 320 units, Houston
Chesapeake, 127 units, Dallas
Mesa Ridge, 220 units, Dallas
Preston Valley, 310 units, Dallas
Sandridge, 504 units, Pasadena
The Pointe, 517 units, Pasadena
Ashton Oaks, 520 units, Clute
Holly Ridge, 290 units, Arlington
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