Ascendant, Culver Land Houston Apartment Trio

Ascendant Capital Partners and Culver Investment Partners (CIP) acquired the Elle Collection multifamily portfolio in the Texas Medical Center area in Houston for approximately $60 million. The acquisition marks Ascendant and CIP’s first deal together.

The Elle Collection comprises three multifamily assets – Elle at the Medical Center, Vie at the Medical Center, and Plaza Townhomes at the Medical Center – totaling 470 units.

CIP’s Jeremy Basloe added, “We believe by implementing our operational and capital-intensive business plan, we can provide residents with a high quality of living while also delivering returns to our investors. ”

The partnership will seek to implement a strategic capital improvement plan to enhance the resident experience at the Elle Collection properties. Ascendant says it manages discretionary commingled institutional funds focused on the hospitality and residential sectors. Culver specializes in multifamily acquisitions, asset management, and development management of existing core-plus, value-add, and distressed multifamily communities across Texas and other select high-growth U.S. cities.

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