BSR REIT has acquired two recently constructed apartment communities in the Houston metropolitan area—Forayna Vintage Park and Botanic Luxury—for a combined $141 million.

The acquisitions mark a strategic redeployment of capital following the REIT’s recent sale of nine stabilized in Dallas and Austin, according to the Toronto-based REIT.

“We have wasted no time finding two high-quality assets that complement our portfolio,” said Dan Oberste, BSR’s CEO. “These communities are well-positioned to benefit from the BSR operating platform and drive growth for our unitholders.”

Forayna Vintage Park, completed in 2023, features 350 units with one, two, and three-bedroom layouts. Located in Northwest Houston’s Vintage Park area, the community offers amenities such as a saltwater pool, golf simulator, fitness centre, and pet spa, with convenient access to the Grand Parkway.

Botanic Luxury Apartments, also built in 2023, includes 288 units in Spring, Texas. It features similar amenities and is located near key employers and institutions, including ExxonMobil, Hewlett Packard Enterprise, and Lone Star College, with easy access to the Grand Parkway and I-45.

Following the acquisitions, BSR’s portfolio now includes 25 properties totalling 6,802 apartment units across the Sunbelt region of the U.S.

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