Friday, November 19, 2010

Fein buys into familiar territory - Houston Business Journal:

http://dotkomm.net/OnThe%20Road.html
The firm, which has spent the last 20 yearx developing multifamily projects in Houstonand elsewhere, purchasecd two Inner Loop apartment complexes last week — the firstt transactions under the new strategyy and the first time Martin Fein has acquiredr an existing project in a decade. Martinm Fein returned to familiar territory by acquiring the Belmont Apartments andCarltonj Apartments, both of which were built by the companyh itself. The 294-unit Belmont located at 3000 Bissonnet, were completeed in 1992. The Carltonm Apartments, with 222 units, were built at 3805 West Alabama in 1993.
“We thought this would be a greag opportunity to start anacquisition program,” says Jason Schlanger, Marti Fein’s vice president of development. “It’d a way for us to adapt to thiscurrenty environment.”

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