HOUSTON, TX - Banyan Residential announced the acquisition of Lofts at the Ballpark, a 375-unit Class-A apartment property in downtown Houston, Texas.
The four-story community is located at 610 Saint Emanuel Street one block from Minute Maid Park and BBVA Stadium, and immediately adjacent to light rail access.
Lofts represents Banyan's first acquisition in the Houston market, which will bolster the company's presence in Texas alongside development property holdings in Dallas. Banyan Residential closed the transaction in conjunction with Marble Capital as its financial partner.
Banyan Residential specializes in multifamily, office and retail development in gateway markets across the United States. The firm currently manages a development pipeline exceeding $600 million in value, comprising more than 1,800 residential units and 385,000 rentable square feet of office space in Scottsdale, Phoenix, Tempe and Dallas.
Marble Capital is a principal investor providing capital solutions to multifamily developers and operators nationwide. Since its inception in 2016, the Houston-based firm has invested in ~9,000 multifamily units worth $1.5 billion in total capitalization.
Source: Banyan Residential and Marble Capital