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HOUSTON — URDANG, the real estate investment manager and part of BNY Mellon Asset Management, and its joint venture partner Falcon Southwest have acquired Villas at Hermann Park, a 320-unit Class A apartment community located in the Texas Medical Center submarket of Houston. The joint venture purchased the multifamily property from Austin-based Cypress Real Estate Advisors, and URDANG made its portion of the acquisition through Urdang Value-Added Fund II L.P. (Fund II), a closed-end private real estate fund managed by Urdang Capital Management, Inc. Improvements to the property will include the installation of stainless steel appliances, painting and updating the common areas and leasing office with better lighting, furniture and artwork.