- Related Cos. sold a four-asset Texas portfolio totaling 277 multifamily and BTR units in Midland.
- The assets were originally acquired in a 3,128-unit, $300M transaction in 2014.
- The deal was brokered by Institutional Property Advisors, part of Marcus & Millichap.
- Midland markets saw leading rent growth but a sharp 49.8% drop in multifamily investment volume in 2025.
Texas Portfolio Transaction
Multi-housing News reports that Related Cos. finalized the sale of a Texas portfolio that includes four multifamily and build-to-rent assets in Midland. The sale covered Delmar Villas (92 units), Enclave (68 BTR homes), Brighton Court (60 apartments), and Signature Place (57 BTR units), totaling 277 units. Institutional Property Advisors, a division of Marcus & Millichap, brokered the transaction for both seller and buyer.
Portfolio Background
These Midland communities were originally part of a larger 21-property, 3,128-unit Texas portfolio acquired by Related Cos. in 2014 for approximately $300M. The properties sit within a 2-mile radius, close to retail and major employers like Occidental Petroleum and Chevron. Related Cos. planned capital upgrades after the initial acquisition.
Get Smarter about what matters in CRE
Stay ahead of trends in commercial real estate with CRE Daily – the free newsletter delivering everything you need to start your day in just 5-minutes
Financing and Market Context
In April 2024, the owners refinanced the four properties with $27.2M in Fannie Mae CMBS loans originated by CBRE Capital Markets. Midland-Odessa led the US in average rent growth at 10% year-over-year. However, multifamily investment volume in the area dropped nearly 50% in 2025, falling to $72.3M.
Investment Momentum
Earlier in 2025, Related Cos. was involved in another major sale. The company sold a six-asset, 1,225-unit Texas portfolio to Altus Equity Group and Wellings Capital. Continued activity in Texas portfolio transactions reflects shifting investor priorities, even with strong local rent growth. The sale also comes as the firm has been active across capital markets and acquisitions more broadly, signaling continued positioning ahead of an eventual rebound in multifamily deal volume.
