Fat Property Acquires 131 Multifamily Units in Houston’s Midtown

Fat Property, a prominent multifamily investment firm based in Houston and led by Cody Lutsch, has completed the acquisition of 131 apartment units in the city's Midtown district. The transaction involved two communities, located at 220 and 230 West Alabama, which were originally constructed in 1960 and 1965, respectively. These properties offer a mix of studio, one-, and two-bedroom apartment homes.

The seller, an affiliate of Realty Center Management from Culver City, California, was represented by the Berkadia Houston Investment Sales team, including Senior Director Kyle Whitney. This off-market deal underscores robust buyer demand for well-located, vintage assets in Central Houston, even for smaller-scale properties. According to Whitney, the acquisition reflects a broader trend of selective capital returning to the Houston multifamily market, where investors perceive attractive acquisition basis and yield profiles compared to other major markets. Fat Property is noted as one of Houston's largest independent apartment buyers, with a significant presence inside the 610 Loop.