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Elandis announces sale of multifamily Valencia at Spring Branch, Houston, for $18M

- Miami - 22 February 2019

Miami – 22 February 2019 –Elandis, an international real estate ownership, development and property management company, has announced that it has sold Valencia at Spring Branch Apartments, a 228 unit multi-family development in Houston, Texas, for $18 million. The purchaser is a real estate investor group active in Southeast USA.

When Elandis first took over the property in 2015, it put in its own management company, Elandis Services, and invested resources to restore the built and social environment for the community. Capital improvements included roofs, electrical and lighting upgrades, new recreation amenities, pool upgrades, exterior paint, and a unit upgrade plan.

The firm’s strategy focuses on the acquisition and repositioning of Class C workforce multi-family developments into Class B communities. Elandis invests in localities that exhibit favorable economic performance and are experiencing job growth opportunities with a strong workforce presence and a growing population.

Elandis Services is the dedicated property management team that draws on local resources and talent, creating new employment opportunities, working efficiencies and economies of scale. Adding value to the communities it serves through shrewd property management is a core element of the Elandis business proposition.

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