Momentum Real Estate Partners, LLC, a private equity firm and leader in the investment of Class A multifamily communities, announced today the sale and transition of Provenza at Barker Cypress and Waterstone Apartments in Houston, TX.
HOUSTON, May 24, 2022 /PRNewswire-PRWeb/ -- Momentum Real Estate leader in the investment of Class A multifamily communities, announced today the sale and transition of Provenza at Barker Cypress and Waterstone Apartments in Houston, TX.
Comprised of 594 apartment units in total, the Provenza at Barker Cypress and Waterstone Apartments properties were acquired and transitioned over to Ilan Investments, a Texas-based multifamily investment firm.
"These successful transactions represent a seven-year effort by Momentum Real Estate Partners, LLC. The purchase price we were able to command indicates the extraordinary value we delivered over the hold period," said Jeff Carron, Partner and Managing Director of Momentum Real Estate Partners, LLC. "Our hands-on approach allows us to create best-in-class and transformative residential communities that are thoughtfully designed for our residents".
"We believe that multifamily assets in high-growth markets offer a compelling investment opportunity, particularly in regions where the supply hasn't kept pace with demand," said Co-Founder and Co-CEO of Momentum Real Estate Partners, LLC, Eduardo Gruener. "We are pleased to continue to build a robust investment portfolio to deliver steady, long-term returns for our investors."
The two Texas sales formed part of Momentum's Fund II. Fund II focuses on acquiring well-located apartment communities in target markets. Momentum Real Estate Partners, LLC also plans to sell an additional two assets in 2022 as part of the company's Fund II portfolio. Momentum Real Estate Partners, LLC recently announced Fund IV, the most recent fund in the series.
About Momentum Real Estate Partners, LLC
Momentum Real Estate Partners, LLC (Momentum) is a private equity firm that seeks to generate superior risk-adjusted returns for investors through the acquisition and proactive asset management of multifamily assets in growing markets throughout the United States. With a 10-year history of successful investments throughout major U.S. markets and $748 million in property value, the firm has invested in 19 projects and approximately 4,900 residential units across 14 cities.
The company strategy is designed to mitigate investment risk and enhance cash flow from operations. Fundamentally, Momentum targets sound investments to create a diversified portfolio to maximize capital appreciation. Momentum employs a hands-on asset management approach. Momentum's executive leadership has a dedicated asset management team of internal and external professionals who continuously strive to maximize value to the company investors.
Momentum is headquartered in Miami, Florida. To learn more about Momentum Real Estate Partners, LLC please visit momentumrep.com.
INVESTING INVOLVES SERIOUS RISKS AND PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. THIS IS NOT AN OFFER TO BUY OR SELL SECURITIES OR A RECOMMENDATION. PLEASE SEE OUR PRIVATE PLACEMENT MEMORANDA FOR ADDITIONAL IMPORTANT INFORMATION AND DISCLOSURES.
David Ramos, Momentum Real Estate Partners, 1 (305) 373-7339, [email protected]
SOURCE Momentum Real Estate Partners