Indus Management Acquires 687-Unit Workforce Housing Portfolio in Houston

Multifamily management company Indus Management has acquired two workforce housing properties in a Qualified Opportunity Zone (QOZ) in Houston. The sales price was not disclosed.

The properties consist of The Alora, a 400-unit garden-style community located at 5500 El Camino Del Rey; and The Ellis, a 287-unit garden-style, workforce housing community located at 5900 Bissonnet St. Community amenities at The Alora include a pool with spa and sun deck, a fitness and business center, a sport court with bleachers, picnic area, children’s playground, an enclosed dog park and covered parking. The Ellis includes features a suite of amenities including a pool with sun deck, picnic area with barbeque grills, a clubhouse coffee, clothes care centers and a large event and party room.

Joey Rippel, Chris Young, Jeffrey Skipworth, Kyle Whitney, Todd Marix and Chris Curry of Berkadia’s Houston office represented the seller, private multifamily real estate investment company The Barvin Group, in the transaction.