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Hudson Buy Matches Elandis’ Goal of Acquiring Sunbelt Workforce Housing
Elandis recently acquired Hudson & Crosby at Westchase, two multifamily communities with a combined 569 residential units in Houston. Located at 2909 Hayes Rd., the two-story properties match Elandis’ stated goal of acquiring workforce housing communities throughout the Sunbelt states. The acquisition price was not disclosed.
The centrally located communities, which were built in 1980, have three shopping centers within a half-mile and access to major thoroughfares. Hudson & Crosby at Westchase feature one-, two- and three-bedroom residences, along with shared amenities which include a swimming pool and clubhouse, covered parking, business center, and a fitness center.
The communities will benefit from a comprehensive in-unit upgrade program, along with upgrades to common areas and amenities.
The acquisition is part of a joint venture between Libra Group and London-based M&G Investments, a multi-national conglomerate. The JV has now deployed in excess of $50 million of equity.
- ◦Sale/Acquisition
