Dallas-based Civitas Capital Group has acquired a 241-unit Class A apartment complex in the popular greater Houston real estate market.

According to a news release, The Park at Tour 18 complex, built in 2020 and is adjacent to the Tour 18 Golf Course, is located about 10 minutes from George Bush Intercontinental Airport and about 30 minutes northeast of downtown Houston.

“Multifamily acquisition is a core strategy for Civitas in 2022," Rootvik Patel, an investments director for Civitas, said in the news release. “The combination of a stabilized property, high-quality new construction, and a fast-growing market made this a win-win for the developer and for Civitas. 

Houston has become one of the hottest real estate markets in Texas and the country, and the press release noted that the Houston MSA currently is home to 7.1 million people and has grown since 2010 be more than one million residents. 

The deal is the fifth in a string of multifamily properties acquired by Civitas, according to the release, which also noted that the Park at Tour 18 closed Dec 9. It is also Civitas’ second property acquisition in the Houston MSA, the release noted. 

Civitas Capital Group, founded in 2009, is described in the release as an alternative investment manager that offers niche opportunities in real estate. The Park at Tour 18, according to the release, was developed by BHW Capital and was named a finalist by the Houston Apartment Association for the 2020 New Development Mid-Rise Project of the Year Award.