Barvin Expands Class A Strategy in Houston Market

Barvin, a vertically integrated Houston-based real estate company, recently closed on the purchase of Elan Heights. The 10-story, Class A+ multifamily property includes 326 units and is located within the historic Heights neighborhood, one of Houston’s most desirable places to live.

Following an active year of Class A acquisitions (~ 1,300 units) and Class C dispositions (~ 900 units), Barvin currently owns ~ 4,700 units across Texas and Georgia. It operates in five markets: Houston, Dallas/Fort Worth, San Antonio, Austin, and Atlanta and is actively seeking investments in these markets and select expansion markets. Barvin has more than $850 million in assets under management in its retained portfolio. To date, it has invested more than $300 million in equity.

Developed in 2016 by Greystar, the Type I steel and concrete property distinguishes itself from its competitors with its posh and modern blend of amenities and interior finishes. The amenity set is highlighted by the on-site fitness studio, yoga and spin studio, upscale game room, private conference room, and expansive skyline lounge with amazing views of Downtown. Additionally, interior finishes include 10-foot ceilings, stainless steel appliances, quartz countertops, engineered wood flooring, custom glass-front cabinetry, frameless showers with bench seating, wine chillers, nest thermostats, and saflok electronic locks.  

“We are excited to acquire Elan Heights, which is located in one the most sought-after and colorful neighborhoods in Houston," said Eric Barvin, President and CEO of Barvin. “The uniquely positioned property is located in proximity to both greenspace and major highway systems. We believe it is a tremendous opportunity and are thrilled to reenter our hometown market after our last Houston acquisition in 2018.”

The property is near many of Houston’s major employment centers including the Central Business District, Uptown/Galleria, Greenway Plaza, and the Texas Medical Center. In addition, the property sits adjacent to Stude Park and is within walking distance to the Heights Hike and Bike Trail and White Oak Bayou Trail. The area was touted as a “destination for foodies, architecture buffs, and creative types,” by the National Geographic Traveler and is a truly unified neighborhood living experience in an urban setting.