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HOUSTON, TX - Bodka Creek Capital has acquired Terraces Apartments, a 240-Unit Class C Multifamily Complex in Texas City, Texas, for $17.6 million, marking the Houston-based real estate firm s continued expansion. Terraces@2602 is the first acquisition for Bodka in 2021, following the close of two complexes in 2020. Bodka currently manages a $24 million commercial real estate portfolio with over 300 multifamily units totally nearly 300,000-square feet. The acquisition positions Bodka as the largest African American Woman owned real estate investment firm in Texasand among the Top 3 nationwide. The firm will pursue increasingly larger value-add opportunities across the Southeast with a Texas emphasis. Located at 2602 21st Street N, the 164,614-square foot Terraces@2602 was 99 percent leased at closing. The property, one of the most desired in Texas City, features two sparkling swimming pools, onsite laundry facilities, a resident dog park, and reserved park ....
KATY, TX - Venterra Realty acquired Elation at Grandway West Apartments in Katy, Texas. Elation at Grandway West is a garden-style property, completed in 2020, with 324 apartments. Located on Franz Road, less than a mile from 99, the Grand Parkway, which provides residents easy access to I-10, the energy corridor, and downtown Houston. Elation s location hosts a diverse employment base with over 15,000 medical jobs and major medical facilities including Texas Children s Hospital, Houston Methodist West, M.D. Anderson Cancer Center, and Memorial Herman Katy Hospital. The community offers six unique one and two bedroom apartment layouts ranging in size from 671 sq. ft. to 1116 sq. ft., with rents ranging from $1040 to $1516 per month. Elation s apartment interiors feature quartz countertops, stainless steel appliances, soft-close drawers, halo-lit mirrors, and smart door locks. The community hosts a robust amenity package including three outdoor grilling area ....