Ascendant Capital Partners And Culver Investment Partners (CIP) Acquire Elle Collection Multifamily Portfolio In Houston For $60M

The Elle Collection multifamily portfolio in Houston's Texas Medical Center area has been jointly acquired by Ascendant Capital Partners and Culver Investment Partners (CIP) for approximately $60 million. The portfolio consists of three multifamily assets totaling 470 units, with an average price per unit of $127,660. The properties included in the portfolio are located at 8181 El Mundo Street, 8300 El Mundo Street, and 2700 Holly Hall Street in Houston.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $60,000,000
• Units: 470
• Price Per Unit: $127,660
• Market: Houston
• Buyer: Russell Gimelstob - Ascendant Capital Partners; Jeremy Basloe - Culver Investment Partners (CIP)
• Address: 8181 El Mundo Street, 8300 El Mundo Street & 2700 Holly Hall Street

Ascendant Capital Partners and Culver Investment Partners (CIP) have collaborated to acquire the Elle Collection multifamily portfolio in Houston. The strategic capital improvements planned for the properties align with Culver's expertise in multifamily acquisitions and Ascendant's focus on managing institutional funds in the residential sector. This marks the inaugural collaboration between the two entities in the real estate industry.