Property: 5300 W. Gulf Bank Rd., Houston, TX 77088
PH Realty Capital and Rockledge principals collectively own workforce-housing assets across 17 states. Longacre is the institutional vehicle through which the partners pursue large-scale distressed multifamily acquisitions.
Longacre, the joint venture between PH Realty Capital and Rockledge, today announced the acquisition of a 541-unit multifamily community in Houston, Texas, an extremely distressed property. The transaction is Longacre's largest single multifamily acquisition to date in Texas and reflects the joint venture's expanding scale within an established national platform.
The principals of Longacre, Peter Hungerford of PH Realty Capital and David Kaye and Joe Listhaus of Rockledge, collectively own and operate workforce and special-situations real estate across 17 states. The combined operating footprint spans the Northeast, Mid-Atlantic, Midwest, South Central, and Mountain West regions. Longacre is the institutional acquisition vehicle through which the partners are scaling that activity into larger, more complex multifamily transactions.
"Houston is the latest market in a national footprint we've been building for years," said Peter Hungerford, founder of PH Realty Capital. "Our existing portfolio runs from New York through the Midwest into the South-Central states. What's new is the scale. Longacre ...
