Investors Capital Group Acquires Wall Street Lofts in Midland, TX
Slice of Real Estate Team
Aug 30, 2024
Key Highlights:
- Investors Capital Group (ICG) acquires Wall Street Lofts in Midland, TX.
- 108-unit mixed-use property with prime downtown location and top amenities.
- ICG Apartment Fund 9 LLC's second acquisition, aiming for four to six assets.
Source (Business Wire)
Quotes
“ "Wall Street Lofts is a unique asset, and we are excited to own this class A mid-rise in the heart of Midland. Midland Odessa has limited new multi-family construction, and we believe the macro-economic forces will continue to drive demand for this asset." ”
Mick Halpin, Principal and Managing Member at ICG
Our Take:
The acquisition of Wall Street Lofts by Investors Capital Group is a strategic move that underscores the firm's commitment to identifying high-value assets in growth markets. The property's prime location in downtown Midland, coupled with limited new construction in the area, positions it as a key asset in ICG's portfolio. With this acquisition, ICG is well-poised to capitalize on the increasing demand for quality multifamily housing in the region, driven by steady economic growth and rising employment opportunities in Midland's business district.
