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.