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The acquisition includes three multifamily properties in the Houston metro area totaling 1,392 units; two properties in Tampa, FL totaling 1,231 units and a 253-unit property in Salt Lake City, UT.
Interest in certain cities or asset types might ebb or flow, but the rush of international capital is on a steady upward trajectory, according to CBRE's H1 In and Out report.
The 23 Class A properties are located in the Atlanta, Austin, Charlotte, Dallas, Denver, Houston, Las Vegas, Nashville, Orlando, Phoenix, Raleigh, San Antonio and Tampa markets.
The Galveston-Clear Lake corridor is booming and resort amenities such as a public access lagoon, along with housing and retail, will attract residents and visitors to this area north of Galveston.
"The dynamic of muted wage growth in the low-to-medium skill jobs and a growing middle-class renter cohort leads us to invest in the space that has the highest demand with little to no new supply,” says M. Patrick Carroll, chief executive officer of Carroll Organization.