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Miami’s Ytech Intl Closes On $35 Million Acquisition Of 1,312 Multi-family Units In Houston, TX
Additional holdings turn Ytech International into a nationwide, real estate investment company
“Ytech’s entry into the Texas multi-family real estate market and Houston, in particular, is an important milestone for the company as we embark upon a nationwide expansion from our base in Florida,” said Yamal Yidios Char, President and CEO of Ytech International. “The Houston acquisition is a great fit for our portfolio and we are confident that it will deliver very attractive returns and become a market leader in its niche.”
The purchase was financed by institutional lender MC-Five Mile Capital (Mitsubishi Corporation)
Ytech has a well-known reputation for conducting extensive research, financial analysis and due diligence before adding properties to its high performing real estate portfolio. “As a risk conscious, value-oriented investment company, we targeted the Houston real estate market because of its strong fundamentals and its economic, population and rental growth trends.” added Yidios Char.
The Houston job market and its steady and sustainable growth are driving multi-housing demand and in addition to the energy sector, Houston is home to industries ranging from telecommunications to health care. The five multi-family developments, which are all approximately 90% occupied and leased, consist of:
•Kirkwood Landing, 9850 S. Kirkwood Road, Houston, TX – 264 Units
•Pine Creek Apartments, 470 Maxey Road, Houston, TX – 300 Units
•Sunset Crossing, 10630 Beechnut Street, Houston, TX – 328 Units
•The Forest Apartments, 22820 Imperial Valley Drive, Houston, TX – 192 Units
•Valencia at Spring Branch, 9550 Long Point Road, Houston, TX – 228 Units
Ytech International was founded in 2005 to develop and re-develop modern housing in Florida’s up-and-coming residential and commercial neighborhoods. Its portfolio includes multifamily apartments, single-family home sub-divisions, 200,000 square feet of retail assets, a 10,000-acre planned community and Class A and B office space. In addition to its recent expansion to Houston, the majority of the company’s current holdings are concentrated in southeast Florida.
A nationwide multi-family investment and development company headquartered in Miami, Ytech International has invested in a total of approximately 7,000 multi-family apartments and currently owns or operates a $300 million portfolio consisting of 3,000 units in Florida and Texas. Ytech’
Page Updated Last on: Oct 16, 2013