Indus Communities Wraps Up 2021 with Two Additional Property Acquisitions
Indus Communities, a Houston-based owner and developer of multifamily apartment communities, closed out 2021 on a high note with the acquisition of two additional apartment communities: The Alora, a 400-unit property in the Sharpstown area, and The Ellis, a 287-unit community in the Bellaire area, both situated in Southwest Houston.
HOUSTON, Texas, Jan. 14, 2022 /PRNewswire-PRWeb/ -- The Alora and The Ellis Apartments Strengthen Indus' Multifamily Portfolio in the Booming Houston Market
Indus Communities, a Houston-based owner and developer of multifamily apartment communities, closed out 2021 on a high note with the acquisition of two additional apartment communities: The Alora, a 400-unit property in the Sharpstown area, and The Ellis, a 287-unit community in the Bellaire area, both situated in Southwest Houston.
Indus, which has built a strong reputation for renovating and revitalizing underperforming properties, sees both acquisitions as new opportunities to continue providing affordable housing while making improvements that help uplift the surrounding communities. Each property was built in 1970 and brings the total number of units under Indus ownership to 9,000+ in Houston.
"The Houston economy and multifamily housing market continue to show very strong growth and adding The Alora and The Ellis to our portfolio is another great opportunity for Indus to provide affordable and well-maintained apartments for hard-working individuals and families," said Manu Gupta, Managing Director of Indus Communities. "Each is located in high-density workforce submarkets near Houston's urban core, and are financially well-positioned as attractive, long-term investments."
The Alora is a low-density, garden-style apartment community located two miles from The Galleria/Uptown District with convenient commutes to all of Houston's major employment and destinations of choice. The Ellis is a garden-style, workforce housing community located west of the affluent Bellaire/Meyerland area and three miles from The Galleria/Uptown District.
Planned upgrades for The Alora's studio, one-, two-, and three-bedroom residences include new flooring, countertops, appliances, and new plumbing and lighting fixtures. The Alora also features shared amenities including a clubhouse, fitness center, swimming pool and spa, children's play area and enclosed dog park, among others.
Upgrades for The Ellis' one-, two-, and three-bedroom residences include improved cabinetry, new blinds and lighting, new appliances, new countertops and plumbing fixtures, and new flooring. Among The Ellis' shared amenities include a clubhouse, event space/party room, swimming pool and sun deck, children's play area, and coffee and tea bar.
About Indus Management
Indus was founded on a simple, yet powerful idea: to transform neighborhoods and lives. Since 2002 it has been committed to making neighborhoods stronger and safer by revitalizing communities in the greater Houston area. As a family-owned business, Indus makes a conscious choice to pay success forward by helping its residents as well as their family and friends. This philosophy also extends to Indus employees who proudly own 25 percent of the business. For further information, visit induscommunities.com.
Media Contact
Michael Harger, Indus Communities, 1 713-774-5618, [email protected]
SOURCE Indus Communities
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