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Transactions - NOVEMBER 24, 2021

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Elandis, M&G Investments acquire 569-unit multifamily community in Houston

by Andrea Zander

Elandis has acquired Hudson & Crosby at Westchase, two multifamily communities with a combined 569 residential units in Houston. The acquisition is part of a joint venture between Libra Group and London-based M&G Investments, a multi-national conglomerate. The joint venture has now deployed more than $50 million of equity.

Located at 2909 Hayes Rd. in Houston, the two-story properties ideally match Elandis’s stated goal of acquiring workforce-housing communities throughout the Sun Belt states. The acquisition price was not disclosed.

The centrally located communities, which were built in 1980, have three shopping centers within a half mile for ease of shopping and for meeting residents’ everyday needs. They also are within easy access of major thoroughfares.

Hudson & Crosby at Westchase feature one-, two- and three-bedroom residences, along with shared amenities that include a swimming pool and clubhouse, covered parking, business center, and f

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