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Deals & Dealmakers

Three Pillars Capital Acquires ‘Aspen Apartments’  in Houston, Texas

Three Pillars Capital, a vertically integrated private equity firm specializing in Class B and C multifamily, today announced the acquisition of a 209-unit apartment community in Houston, Texas. 

The 178,342-square-foot community was purchased from Rebus Capital. Other terms of the transaction were not disclosed. 

Located at 6160 West Tidwell Road, in the Brookhollow/Northwest Crossing submarket, the community benefits from its close proximity to  two of Houston’s largest thoroughfares —connecting the properties to several of the city’s largest employment centers including Downtown, the Galleria, Greenway Plaza, and the Texas Medical Center. Residents also have access to a wide array of local retail, dining, and entertainment options such as the Willowbrook Mall and Plaza and the West Road Plaza

“With inflationary pressures causing multifamily rents to soar, Houston has experienced exceptional growth in the Class B and C housing sector,” said Gautam Goyal, Founder and Managing Principal of Three Pillars Capital Group. “We look forward to meeting the elevated demand for moderately priced rental housing with our most recent acquisition of Aspen Apartments, and will continue to monitor the market for attractive investment opportunities we believe can provide risk-adjusted returns.”

Aspen Apartments includes an assortment of one- and two-bedroom homes, with interior features like private patios, balconies, spacious walk-in closets, in-unit washer-dryers, and ceiling fans. This pet-friendly property boasts a variety of community-oriented amenities such as a basketball court, controlled access gate, clubroom, playground, swimming pool, and commercial laundry facility.

Originally built in 1973, Three Pillars will deploy a strategic value-add repositioning of the community that will include resurfaced countertops, updated cabinets with pulls, new vinyl wood flooring, modern lighting and plumbing fixtures, and kitchen tile backsplash. Potential additional upgrades also include stainless steel appliances, granite countertops, undermount sinks, and smart home tech packages. 

Aspen Apartments will be managed by Three Pillars’ sister company, Greenline Apartment Management. Greenline brings a sophisticated, hands-on approach to property management and, through collaboration with Three Pillars, delivers a secure, modern and clean living environment that prioritizes the needs and requests of residents. 

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