Altus Equity Group announced the acquisition of the Odessa Multifamily Portfolio, a collection of six garden-style apartment communities totaling 1,225 units in the high-growth Midland-Odessa region of West Texas, acquired, in part, through a strategic partnership with Wellings Capital.
The transaction closed in March and was made possible by the collaborative efforts of Marcus & Millichap IPA, CBRE debt team and legal counsel from Phillips Murrah and Beyers Costin Simon.
Located in the heart of the Permian Basin, these properties benefit from Odessa's energy economy and connectivity to major Texas cities.
"We're entering this investment with a strong margin of safety and clear operational upside," said Andy Eicher, senior vice president of investments at Altus Equity Group. "With high occupancy, assumable loans in place and proven demand in the market, this portfolio is positioned to allow us to drive substantial value through disciplined management and ass
