Fat Property Acquires 131 Multifamily Units in Houston’s Midtown

Fat Property, a prominent multifamily firm in Houston led by Cody Lutsch, has completed the acquisition of 131 apartment units located at 220 and 230 West Alabama in the city's Midtown district. The properties, built in 1960 and 1965 respectively, comprise two communities offering studio, one-, and two-bedroom residences. This off-market transaction involved an affiliate of Realty Center Management, based in Culver City, California, as the seller.

The Berkadia Houston Investment Sales team, including Senior Director Kyle Whitney, Senior Managing Director Chris Curry, and others, represented the seller. Fat Property is known as one of Houston's largest independent apartment buyers, with over 2,000 units primarily within the 610 Loop. Kyle Whitney noted that the deal for these well-located, vintage assets in Midtown demonstrates strong buyer demand for central Houston locations and a return of selective capital to the Houston multifamily market. Investors are finding compelling acquisition opportunities with attractive basis and yield profiles compared to other major markets. This acquisition further solidifies Fat Property's presence in key urban areas and suggests continued investment potential for value-add multifamily properties in Houston.