29th Street Capital’s Latest Acquisition Marks Its 16th Texas Multifamily Buy

Privately held real estate investment firm 29th Street Capital (29SC) recently acquired a 362-unit apartment community in Houston. The purchase of San Cierra Apartments marks the firm’s 16th multifamily acquisition in Texas, totaling more than 5,000 units in the market.

Built in 2008, San Cierra is a class-A property in the Cypresswood submarket of northwest Houston. 29SC’s capital improvement plan includes renovating unit interiors by adding smart-home features. A new yoga/spin room addition is also planned in the resident clubhouse.

29SC’s in-house property management group, Haven Residential, will oversee the management and leasing for the community.

“We continue to be bullish on Houston as a great place to deploy capital,” said Javier Bustillo, 29SC’s senior vice president of acquisitions for the Southeast region. “We continue to pursue well-located assets with large floorplans for which we feel there will be additional demand, as well as downside protection.”