Indus Management Scores Two Workforce Multifamily Properties in QOZ
Two workforce multifamily properties in a Houston Qualified Opportunity Zone recently sold for an undisclosed purchase price. Indus Management, a multifamily management company also based in Houston, acquired the properties for a combined total of 687 units.
Joey Rippel, Chris Young, Jeffrey Skipworth, Kyle Whitney, Todd Marix and Chris Curry of Berkadia Houston marketed The Alora and The Ellis on behalf of The Barvin Group, a private multifamily real estate investment company based in Houston.
“We are excited for the renovating and repositioning opportunities that The Alora and The Ellis offer in this close-in densely populated submarket. Our resident programs should prove extremely beneficial to the residents of both properties and the surrounding area,” says Manu Gupta, managing director, Indus Communities.
Located at 5500 El Camino Del Rey, The Alora is a 400-unit low-density garden-style community that offers studio, one, two- and three-bedroom units ranging 500 square feet to 1,300 square feet. Located at 5900 Bissonnet St., The Ellis is a 287-unit garden-style workforce housing community that offers one-, two- and three-bedroom units that average from 721 square feet to 1,147 square feet.
Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM.
In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.