JOINT VENTURE ACQUIRES $18M IN MULTIFAMILY DEBT
HOUSTON AND CONROE, TEXAS — A joint venture between New York-based Hudson Realty Capital and Triumph Land & Capital Management has acquired two non-performing loans with a balance of $18 million. The loans are secured by two Houston-area multifamily properties that were immediately foreclosed on by the joint venture. The first property is a 288-unit, Class B property located in Houston; the second is a 228-unit property located in the Conroe. The venture plans to renovate and reposition both properties.