Longacre Expands Portfolio with Acquisition of 541-Unit Multifamily Complex in Houston
NYC-Based Longacre Acquires 541-Unit Houston MF Complex
Image: Benzinga
Longacre, a joint venture between PH Realty Capital and Rockledge, has acquired a 541-unit distressed multifamily property in Houston, Texas. This marks their largest acquisition in Texas, part of a strategy to scale their operations across 17 states focusing on workforce housing.
- 01Longacre's acquisition is the largest single multifamily purchase in Texas to date.
- 02The joint venture aims to stabilize and improve the distressed property while maintaining its role as workforce housing.
- 03Longacre has assets under management totaling $1.5 billion as of May 2026, focusing on properties with 200+ units.
- 04The acquisition aligns with Longacre's strategy to pursue larger distressed multifamily transactions across major markets.
- 05The partnership has previously executed significant transactions, including a $192.5 million acquisition of rent-regulated properties in the Bronx.
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Longacre, a joint venture formed by PH Realty Capital and Rockledge, has successfully acquired a 541-unit multifamily community located at 5300 W. Gulf Bank Rd., Houston, Texas. This acquisition is notable as it represents Longacre's largest single multifamily purchase in Texas, part of a broader strategy to scale their operations across 17 states, focusing on distressed workforce housing. The property had faced operational and capital-structure challenges prior to the acquisition, prompting Longacre to implement a turnaround plan aimed at stabilizing operations and completing necessary capital projects. The joint venture is recognized for executing complex multifamily transactions and has a proven track record of managing and improving distressed assets. As of May 2026, Longacre manages assets worth $1.5 billion and is actively seeking additional large-scale multifamily opportunities nationally, particularly those with over 200 units in major markets. This acquisition underscores Longacre's commitment to addressing the needs of workforce housing in the current market landscape.
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The acquisition aims to stabilize a distressed property, preserving its role as workforce housing, which is crucial for local residents.
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