KingsRock Advisors, CBRE Dallas, and Commerce Street acted as advisors to Madera
Sixth Street Real Estate and Madera Residential today announced the formation of a new joint venture focused on multifamily properties throughout Texas and the Southeast, which was initiated with the recapitalization of a six-property, 1,967-unit, Class A portfolio located in Houston, Texas (the “Seed Portfolio”).
The Seed Portfolio encompasses six multifamily communities strategically positioned across Houston. The portfolio includes Domain at CityCentre, The Lofts at CityCentre, La Maison River Oaks, Chelsea Museum District, Vantage Med Center and The Montrose at Buffalo Bayou.
“We are excited to partner with the Madera Residential team to identify and acquire high-quality assets in high growth markets at a discount to underlying replacement cost and positioning them for long-term growth” said Adam Rapport at Sixth Street.
The partnership between Madera Residential and Sixth Street marks a strategic shift for Madera, expanding beyond its traditional network of high-net-worth investors to also include institutional joint venture partners.
“The combination of our local expertise with Sixth Street’s institutional backing creates a compelling partnership poised to capitalize on the region’s strong fundamentals and we look forward to continued collaboration”, said James Kane at Madera Residential.
KingsRock Advisors, CommerceStreet Capital Dallas, and CBRE Debt and Structured Finance Dallas served as Madera Residential’s advisors on the recapitalization of the portfolio and formation of the Joint Venture. Kirkland and Ellis served as legal counsel to Madera and Latham & Watkins represented Sixth Street.
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