Spirit Investment Partners Acquires Texas Multifamily Portfolio in Partnership With Strategic Value Partners
Spirit Investment Partners, alongside Strategic Value Partners (SVP), has acquired an 895-unit multifamily portfolio from Resia, a subsidiary of Brazil's MRV&Co. The properties include the 573-unit Resia Ten Oaks in Houston and the 322-unit Resia Rayzor Ranch in Denton, Texas. Both were completed in 2024 but faced challenges due to temporary oversupply that affected lease-up performance. The acquisition aligns with SVP's strategy of investing in high-quality assets during market dislocations while leveraging experienced operators like Spirit for value creation through capital and active management. Spirit will rebrand the properties, manage their stabilization, and oversee operations via its affiliate, Spirit Management Services. Oaktree provided financing arranged by JLL. SVP is a global alternative investment firm with $21 billion in assets under management, while Spirit has acquired or built over 7,000 multifamily units across the U.S.
Topics: acquisition portfolio management real estate investment