Source: RealtyMogul / #Apartments #Multifamily
LOS ANGELES, CA - RealtyMogul, a pioneer in providing private real estate to discerning investors, announced that MogulREIT II, its real estate investment trust or “REIT,” has completed investments in multifamily apartment complexes in Fort Worth, Texas and San Antonio, Texas, consisting of over 450 units.
The properties were acquired through a partnership with Comunidad Realty Partners, a dynamic real estate investment firm specializing in workforce housing communities in culturally diverse neighborhoods. Core to Comunidad’s investment strategy is focused on creating culturally-relevant, inclusive communities that are tailored to the various ethnicities living at its properties. The company specializes in revitalizing apartments in infill locations by implementing a proprietary cultural management platform, which includes specific cultural upgrades, community initiatives, and social impact programs that build togetherness and may enrich lives.
“We are pleased to have added these two properties to the MogulREIT II portfolio,” said Aaron Halfacre, President at RealtyMogul. “Comunidad’s investment expertise in creating culturally relevant communities is a strategic fit with MogulREIT II’s investment objective designed to seek out value-add multi-family investments with affordable rental rates in growth markets.”
The investment opportunities were offered to RealtyMogul’s accredited investors as an individual deal and to all investors via MogulREIT II. These transactions represent the fourth and fifth assets added to the MogulREIT II portfolio. MogulREIT II has previously made investments in Texas and New York in multifamily apartment communities that offer value add opportunities.