The Copperfield Portfolio was made up of five multifamily communities with a total of 1,376 apartment units in the Northwest Houston area. Before selling the five, Gaia executed a capital improvement plan throughout the Houston portfolio that saw the upgrade of the clubhouses, swimming pools, fitness centers and laundry facilities. In addition, improvements were made to the room appliances, floors and countertops. The five projects are all within the Copperfield master planned community in northwest Houston.

Gaia has sold over 50 Sunbelt garden-style properties encompassing almost 15,000 units that has generated over $1.5 billion in sales.

“We are pleased to have successfully executed our business plan…and have completed our strategy to exit most of what we think are overpriced Sunbelt markets and plan to redeploy capital into New York City,” said Danny Fishman, Gaia CEO.