Sacramento, CA - L5 Investments, a Northern California-based multifamily investment firm, and its partners are pleased to announce the successful closing of a 350 unit apartment community built in 1982 and located in Houston, TX. This was a joint venture opportunity with one of our valued partners.
The property is 93.4% occupied, is well positioned and stands to benefit from $800,000 in exterior and interior upgrades. Houston is currently the 4th largest city in the U.S. and Chief Executive Magazine's 2014 "Best & Worst State" rated Texas as the #1 state to do business for a historic tenth year in a row.
This will be another strong performing asset for our growing portfolio.
L5 Real Estate Investments, LLC is a privately held investment firm focused on stable, income producing multi-family opportunities in emerging U.S. markets.