Fat Property Acquires 131 Multifamily Units in Houston’s Midtown District

Houston-based multifamily firm Fat Property has acquired 131 apartment units across two communities located in the city's Midtown district. The properties, 220 and 230 West Alabama, were constructed in 1960 and 1965 respectively, offering a mix of studio, one-, and two-bedroom residences. This off-market transaction involved an affiliate of Realty Center Management as the seller, with the Berkadia Houston Investment Sales team, led by Senior Director Kyle Whitney, representing the seller.

Fat Property, recognized as one of Houston’s largest independent apartment buyers, particularly within the 610 Loop, now manages over 2,000 units. Whitney noted that the acquisition of these vintage assets highlights strong buyer demand for central Houston locations, even for smaller properties. He also pointed to a broader trend of selective capital returning to the Houston multifamily market, where investors perceive compelling acquisition opportunities with favorable basis and yield profiles compared to other major markets. This deal underscores the continued appeal of well-located, established multifamily assets for investors seeking value in urban cores.