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Excelsa Properties Closes the Sale of 392-Unit Multifamily Community in Houston, Texas

Excelsa Properties
July 28, 2022

Bend at Oak Forest is Excelsa US Real Estate I, LP’s first exit


HOUSTON, TX, July 28, 2022, Excelsa Properties announces that it has completed the sale of Bend at Oak Forest (“Bend”), a 392-unit value-add multifamily property located in the Northwest/Oak Forest submarket of Houston, Texas.

Excelsa US Real Estate I, LP (“EUSRE I”) acquired Bend in a joint venture deal with GoldCor Capital Partners (“GoldCor”) in June 2019, representing the second addition to the EUSRE I portfolio. It is a garden-style, suburban, multifamily property constructed in 1972.


During the hold period, Excelsa and GoldCor executed a deep value-add program, rebranding the property and hiring new management. 


The team improved landscaping, repaired roofs, parking areas and added patio slats, as well as refurbished 57 units by replacing floors, replacing cabinets, and installing granite countertops. A green energy program was also implemented changing lighting, thermostats, and plumbing fixtures.


“We vastly improved the physical and operating parameters of Bend,” said Jon Woods, Chief Operating Officer at Excelsa Properties, “that succeeded in transforming the community and resident experience it offers.”


About Excelsa Properties


Excelsa Properties is the United States real estate investment arm of Excelsa Holding, an independent investment firm currently with close to $450 million in total assets under management with operations in the United States and the Middle East region. Excelsa closed its second multifamily fund, Excelsa US Real Estate II, LP, on May 26, 2022. For more information, please visit www.excelsaholding.com.


Media and Press Contact:

David Ebeling

Ebeling Communications

949.861.8351 | david@ebelingcomm.com

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