Home Alts News Pacific Oak Capital Advisors Buys Suburban Houston Residential Portfolio

Pacific Oak Capital Advisors Buys Suburban Houston Residential Portfolio

Pacific Oak Capital Advisors LLC, a sponsor of alternative investment programs, has purchased 42 single-family homes in Houston-area suburbs.

Pacific Oak Capital Advisors LLC, a sponsor of alternative investment programs, has purchased 42 single-family homes in Houston-area suburbs for nearly $6.5 million. The acquisition involved multiple sellers and was completed in an off-market transaction.

With this latest acquisition, Pacific Oak and its affiliates now own and manage approximately 1,850 homes throughout suburban centers in the Midwest, South and Southeast.

Pacific Oak paid on average $153,000 per property for the portfolio which is generating average monthly rents just north of $1,300. The majority of homes are located southeast and southwest of Houston in cities such as Baytown, Missouri City, Pasadena and Texas City.

“The for-sale housing market in Houston is performing well,” said Ben Aitkenhead, managing director of Pacific Oak Capital Advisors. “Many people, especially those interested in moderate income homes, are turning to renting a home instead of buying, and we are delighted to have been positioned to expand our presence in this strong market.”

Pacific Oak and its affiliates focus their single-family investment platform on housing for median-income families who prefer to rent their homes, rather than own. These properties typically include three bedrooms and two bathrooms and more than 1,000 square feet of living space.

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