Trive Capital Real Estate has bought Med Main, a 338-unit multifamily property in Houston’s medical center submarket. This acquisition was completed in partnership with Aspen Oak Capital Partners, a Dallas-based operator in the multifamily market.
Med Main is a 2020-constructed, class AA community offering access to the area’s dynamic employment hubs and Interstate 610, Houston’s inner loop highway. The property offers community amenities like a resort-style pool and outdoor entertainment space, a penthouse level sky lounge, a two-story fitness center, and coworking space.
Trive Capital is a private equity firm with over $4 billion in regulatory assets under management. Trive focuses on investing equity and debt in what it sees as companies with the potential for transformational upside through operational improvement.
“This acquisition is truly representative of our investment approach – a unique opportunity sourced off-the-run alongside a long-standing relationship with a clear path to value-creation. We have a unique opportunity to add value to our investment and the community through hands-on asset management. We are thrilled to partner with Aspen Oak and own this high-quality product in a market with tremendous job growth,” said Troy Daniel, founding partner of Trive Capital Real Estate.