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Trive Capital buys Texas multifamily property

Trive Capital Real Estate has acquired Med Main, a Texas-based multifamily property.

Trive Capital Real Estate has acquired Med Main, a Texas-based multifamily property. No financial terms were disclosed for the deal that was done in partnership with Aspen Oak Partners.

PRESS RELEASE

DALLAS, Texas
Trive Capital Real Estate is excited to announce its acquisition of Med Main, a 338-unit multifamily property in Houston’s Medical Center submarket. This acquisition was completed in partnership with Aspen Oak Capital Partners (“Aspen Oak”), a Dallas-based owner/operator with deep experience in the multifamily market.

Located minutes from the Texas Medical Center, Med Main is a 2020-constructed, class AA community offering incredible access to of the area’s dynamic employment hubs. The property’s highly desirable community amenities include a resort-style pool and outdoor entertainment space, a penthouse level sky lounge, a two-story fitness center, and coworking space. The property also offers direct access to Interstate 610, Houston’s inner loop highway.

“This acquisition is truly representative of our investment approach – a unique opportunity sourced off-the-run alongside a long-standing relationship with a clear path to value-creation. We have a unique opportunity to add value to our investment and the community through hands-on asset management. We are thrilled to partner with Aspen Oak and own this high-quality product in a market with tremendous job growth,” said Troy Daniel, Founding Partner of Trive Capital Real Estate.

“Trive’s real estate equity strategy focuses on executing with trusted partners on value-add opportunities with strong growth drivers. Med Main is a great fit, aligning well with each component of our overall strategy,” added Conner Searcy, Managing Partner of Trive Capital.

Trive Capital Real Estate focuses on investing in stabilized acquisition, value-add repositioning, and ground-up development opportunities through both joint venture relationships and on a direct basis. Trive’s philosophy is centered around creating value at the asset level through a hands-on, collaborative approach.