HOUSTON--Delta Alliance Capital Management LCC(DACM) has acquired Madison Park Apartments, a576-unit apartment community located in Houston. DACM partnered onthe transaction with a Texas-based real estate private equity firm.

Madison Park is situated in the master-plannedWestchase submarket, adjacent to the EnergyCorridor. Built in 1978, the community consists of a variety offloor plans, with an average unit size of 895 square feet. MadisonPark is situated on 23.5 acres in the heart of the Westchase'sepicenter near the intersection of Westheimer Road and Sam HoustonTollway/Beltway 8.

“We have been tracking this deal for many months and we areexcited to kick off our renovation plan,” PaulPerkins, CIO of Irvine, Calif.-based DACM, toldGlobeStreet.com. “With a replenished capital structure andmarketing plan, we plan to capitalize on an exceptional Houstonemployment growth trend coupled with demand for upgraded rentalhousing.”