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MANHATTAN BEACH, CALIF. — California-based investment firm Magma Equities has acquired a portfolio of 1,361 multifamily units that are located across various major markets in Texas from Houston-based Hilltop Residential. The sales price was not disclosed, nor were the specific names and locations of the properties. Institutional Property Advisors, a division of Marcus & Millichap, brokered the sale. The deal represents Magma Equities’ initial foray into the Houston and San Antonio multifamily markets and boosts the firm’s holdings in Dallas-Fort Worth to more than 2,000 units.