Berkadia announced it has arranged the sale of two workforce multifamily properties in a Qualified Opportunity Zone (QOZ) in Houston. Berkadia Houston marketed The Alora and The Ellis on behalf of The Barvin Group, a private multifamily real estate investment company based in Houston. Indus Management, a multifamily management company also based in Houston, acquired the properties, for a combined total of 687 units.
“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,” said Manu Gupta, managing director at Indus Communities.
The Alora is a 400-unit, low-density, garden-style community that offers studio, one-, two- and three-bedroom units ranging from 500 square feet to 1,300 square feet. Individual units feature ceramic tile flooring, vaulted ceilings,
