Fat Property Acquires 131 Multifamily Units in Houston’s Midtown

Fat Property, a prominent multifamily firm led by Cody Lutsch, has completed an off-market acquisition of 131 apartment units in Houston's Midtown district. The properties, located at 220 and 230 West Alabama, consist of two communities built in 1960 and 1965, offering studio, one-, and two-bedroom homes.

The seller was an affiliate of Realty Center Management, based in Culver City, California. The transaction was facilitated by the Berkadia Houston Investment Sales team, including Senior Director Kyle Whitney. Whitney noted that the deal underscores robust buyer demand for central Houston locations, even for smaller, vintage assets.

This acquisition reflects a broader trend of selective capital returning to the Houston multifamily market, where investors perceive compelling basis and yield profiles compared to other major markets. For developers and investors, this signals ongoing opportunities within established urban submarkets in Houston.