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.”