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HOUSTON — Miami-based investment firm Elandis has acquired Waters at Westchase, a 260-unit apartment community in Houston. Built in 1979, the property features one- and two-bedroom units. Elandis acquired the property in a joint venture with London-based M&G Investments and multinational conglomerate Libra Group. The new ownership will implement a value-add program focused on the unit interiors, amenity spaces and common areas. The seller was not disclosed.