Dallas-based investment firm Civitas Capital Group recently closed a deal to acquire a 300-unit multifamily complex in greater Houston.

According to a press release, the firm has acquired Cathedral Lakes, located in a desirable region in the greater Houston area.

"This was our second multifamily acquisition in recent weeks, and we expect more execution of this core strategy for Civitas in 2022," Rootvik Patel Investments director for Civitas said, according to the press release. "It's yet another recent build, garden-style property with high-quality new construction in a fast-growing market."

The Cathedral Lakes property is well-sited, located next to the suburb of the Woodlands and is only 30 minutes north of downtown Houston. 

The greater Houston area, currently home to 7.1 million residents, is experiencing a population boom, with more than 1.1 million residents added since 2010. The area has managed to draw a skilled labor force and companies near the Cathedral Lakes property include HP, Southwestern Energy and Exxon Mobile which employ local workers with a median household income of more than $100,000.

Cathedral Lakes is the third multifamily property Civitas has acquired in the greater Houston area and is the sixth acquisition overall for the firm since last summer.

Founded in 2009, Civitas Capital Group is headquartered in Dallas and is an alternative investment manager.