PrivCap Holdings acquired Emerald Pointe Apartments, a 364 unit multifamily apartment complex, in Pasadena, TX earlier today. The $13.3mil acquisition brings PrivCap's multifamily portfolio to over 4,000 apartments nationwide.
"We are very excited about this acquisition and the value add opportunity this property presents," said Donny Cohen, CEO of PrivCap. "We are confident that this asset will perform very well for our investors and that we will be able to execute our model well with the asset. Our team is excited to get to work and implement our strategy. We remain bullish on the Texas market where we have been heavily focused for the past year."