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The Houston market is experiencing a significant deceleration in multifamily deliveries, and the submarket in which Discovery is located has no projects under construction in the near term.

The company is making $50 million available to Ashford Hospitality Trust that can support up to $500 million in acquisitions.

Value-add investors are putting longer-term debt on assets and focusing on assets that will perform well, should a downturn occur.

The $400 million in upgrades will be made possible through the HUD's Rental Assistance Demonstration program, which converts apartments' funding to the Section 8 program.

Jefferson Lighthouse Place, built in 2015, is currently 94% occupied. HGI reports it plans to spend an additional $850,000 on capital improvements at the property located at 4411 North Federal Highway.

“The acquisition does highlight the fact that sometimes you acquire assets on Wall Street more efficiently than on Main Street.”

One of the nation's fastest growing providers has decided to nearly double its footprint in the central business district.

A private East Coast buyer in a 1031 Exchange purchased the asset free and clear of existing financing.