HOUSTON-Kaplan Management Co. has taken over managementresponsibilities for three foreclosed multifamily propertiespreviously owned by New York City-based GFI Capital. The threeproperties, which total 1,375 units, include Cambridge at CityView, City View Place and Springfield at City View.

These class C properties are the first round of GFI Capitalassets in Houston that are scheduled for foreclosure orreceivership, according to local sources. According to its website,the company owns 12 more City View-branded properties, all of whichwill be going back to the lender, sources report. GFI Capital didnot return GlobeSt’s call to discuss the distressed properties.

CW Capital of Washington, DC foreclosed on Cambridge at CityView, City View Place and Springfield at City View in July andimmediately hired Kaplan to take over the properties, according toMichelle Rhone, Kaplan’s vice president of management. The twocompanies have worked together previously on other properties inArizona, Texas and Nevada.