Acquisition of Elle Collection Portfolio in Houston’s Medical Center Area by Ascendant Capital Partners and Culver Investment Partners

Ascendant Capital Partners and Culver Investment Partners Join Forces to Acquire Elle Collection Portfolio in Houston’s Medical Center Area

HOUSTON, TX – Ascendant Capital Partners and Culver Investment Partners have teamed up to make a significant investment in the Texas Medical Center area of Houston. The two real estate investment platforms have acquired the Elle Collection portfolio for approximately $60 million, marking their first collaboration and Culver Investment Partners’ inaugural investment on their new platform.

The Elle Collection consists of three multifamily assets – Elle at the Medical Center, Vie at the Medical Center, and Plaza Townhomes at the Medical Center – totaling 470 units. This strategic acquisition aligns with Ascendant and CIP’s focus on acquiring well-located residential properties in high-growth markets with strong fundamentals.

Russell Gimelstob, Founder and CEO of Ascendant, expressed his excitement about the addition to their portfolio, highlighting the dynamic nature of the Medical Center submarket. With a growing job market, world-class medical facilities, and a diverse population of medical professionals and researchers, the area presents a strong demand for high-quality housing. The partnership with CIP aims to enhance the value of the properties through operational expertise and further establish their presence in Houston.

Jeremy Basloe, Founder and Managing Partner of CIP, emphasized the portfolio’s ability to meet the housing needs of the rapidly expanding Medical Center neighborhood. With three distinct offerings tailored to residents’ preferences, the acquisition presents an opportunity to provide a superior living experience while delivering returns to investors. CIP plans to leverage their operational and capital-intensive strategies to maximize the portfolio’s potential and capitalize on market opportunities in Texas and the Sunbelt regions.

The Elle Collection’s prime location within the Medical Center, one of the world’s largest medical districts, positions it as a desirable asset for medical professionals and students. The partnership intends to implement a strategic capital improvement plan to enhance the resident experience and further solidify the properties’ value in the market.

Overall, the collaboration between Ascendant Capital Partners and Culver Investment Partners signifies a strong commitment to strategic investments in high-growth markets, with a focus on delivering value to residents and investors alike. The acquisition of the Elle Collection portfolio marks a significant milestone for both platforms and sets the stage for future growth and success in the real estate sector.