SFO Capital Partners continues to grow its multifamily housing portfolio by adding 368 units in Houston, Texas
London August 06, 2021 – SFO Capital Partners has added 368 apartment units to its multifamily portfolio with the acquisition of Victory North Apartments (“Victory North”), a 97% occupied Class A multifamily housing community, located in Houston, Texas.
This latest transaction marks SFO Capital Partners’ 17th acquisition in the USA and further expands its robust footprint in US multifamily real estate. To-date, SFO Capital Partners has acquired over USD950mn of US housing assets comprising more than 6,000 units located across the nation’s fastest growing metro areas.
Built in 2016, Victory North is located in League City, one of Houston’s most dynamic micro-locations, characterized by an affluent and highly skilled workforce, with a household income of USD116K vs. USD62K in Texas. In addition, the property benefits from proximity to key employment nodes such as the NASA Mission Control Center (14,000 jobs), the University of Texas Medical Branch (11,000 jobs) and the Webster Healthcare Corridor (10,000 jobs).
Mohamad Abouchalbak, CEO of SFO Capital Partners, said: “This transaction reflects our ongoing commitment to capitalize on growing markets with favorable economic trends. Victory North has delivered solid performance, maintaining high occupancy and rent collections throughout the COVID-19 pandemic. We look forward to implementing our investment strategy, and delivering to our investors strong and stable cashflow during the holding period.”
About SFO Capital Partners: SFO Capital Partners is a London-based global real estate investor and investment manager, committed to achieving superior risk-adjusted returns and focused on establishing and maintaining long-term relationships with its global clients and partners. SFO Capital Partners applies its global mindset, in-depth sector experience and local knowledge to unlock international real estate investment projects in Europe and the USA across a select range of investment strategies including income-generating, value-add and development schemes. As of October 2022, SFO Capital Partners has acquired a diversified portfolio comprising more than $2.0 billion in assets located primarily in the USA and Europe, including 7,700 apartments and more than 9 million square feet of commercial real estate under management.