Vision & Beyond Acquires 460 Multifamily Units; Sees Strong Potential in Texas' Secondary Markets
Green Tree Place Apartments in Houston, Texas.
Vision & Beyond Capital Investments has entered the Houston, Texas multifamily market with the acquisition of three assets and the promise of more acquisitions to come.
The multifamily developer has acquired 96-unit Pine Lake Village apartments in Greater Greenpoint (1325 Greens Pkwy., 77067), 168-unit Ridge Point in Texas Medical Center (2700 Westridge Dr., 77054), 196-unit Green Tree Place in North Houston (700 Dunson Glen Dr., 77090). The acquisitions and improvements represent an investment of $73 million.
“Our team started researching Texas and specifically the Houston metro a year and a half ago,” says Stas Grinberg, co-founder and managing principal, Vision & Beyond Capital Investments. “We feel like there’s a historical opportunity in the South, what with the natural migration happening within the United States, as well as across the border, and Vision & Beyond is thrilled to plant our flag in the ground here.”
Vision & Beyond has improvement plans for each property, all Class B & C multifamily, to add value to the multifamily assets and enhance the communities for the tenants who call them home.
Vision & Founded was founded in Cincinnati, Ohio in 2018 by Grinberg and Peter Gizunterman, two veteran officers in the Israel Defense Forces. The firm acquired two market-rate multifamily developments in Greater Louisville, Kentucky earlier this year, bringing its holdings to nearly 3,000 multi-unit residential developments in Cincinnati, Columbus, and Dayton, Ohio; Lexington and Louisville, Kentucky; New Albany, Indiana, and Houston, Texas.
“As with all our acquisitions, Vision & Beyond is aggressively chasing deals in secondary markets. We see room for opportunity in Houston, San Antonio, and Fort Worth, because they will grow in parallel to pricier markets like Austin and Dallas. We anticipate a long, bright future in the Lone Star State,” says Grinberg.
Vision & Beyond’s holdings represent a total investment of nearly $295 million in real estate assets and property improvements. Grinberg says the firm plans to invest another $270 million in new acquisitions and property improvements in the remainder of 2022.
For more information, please visit www.vnbinvest.com.