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Bodka Creek Capital Acquires 240-Unit Multifamily Apartment Complex for $17.6 Million in Houston Submarket of Texas City


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 ....

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