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Eastham Capital, a private equity real estate firm dedicated to providing superior, risk-adjusted returns to investors through the transformation of undervalued multifamily real estate, announced the disposition of two multifamily communities – Veranda Apartments, a 200-unit apartment community, and Stone Ridge Apartments, a 248-unit apartment community located in Texas City, part of the larger Houston metropolitan area.

Veranda Apartments and Stone Ridge Apartments were acquired in 2018 by Eastham Capital Fund V, LP, as a joint venture between Mosaic Residential and Eastham Capital. The investments were identified as value-add opportunities in a growing submarket benefiting from strong regional employment drivers, proximity to major transportation corridors, and continued population growth across the greater Houston area.