Fat Property Acquires 131 Multifamily Units in Houston’s Midtown

Fat Property, a prominent Houston-based multifamily firm led by Cody Lutsch, has expanded its portfolio with the acquisition of 131 apartment units across two communities located at 220 and 230 West Alabama in Houston's Midtown district. The properties, built in 1960 and 1965, comprise studio, one-, and two-bedroom homes. The seller, an affiliate of Realty Center Management, was represented in the off-market transaction by the Berkadia Houston Investment Sales team.

This acquisition highlights a strong and consistent buyer demand for well-located, vintage assets within Central Houston, even for smaller-scale properties. Kyle Whitney of Berkadia noted that the deal signifies a broader return of selective capital to the Houston multifamily market, where investors are identifying compelling opportunities to acquire apartments at favorable basis and yield profiles relative to other major markets. Fat Property, already one of Houston’s largest independent apartment buyers with over 2,000 units primarily within the 610 Loop, continues to strategically invest in the city's urban core, signaling ongoing investor confidence in value-add potential.