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RPM Living Investments Continues Houston Growth, Acquires Ashton on West Dallas

AUSTIN, Texas, December 01, 2022--(BUSINESS WIRE)--RPM Living announces the acquisition of Ashton on West Dallas in Houston’s Montrose submarket, in the heart of the city’s urban core. The acquisition marks RPM’s 17th acquisition in the greater Houston area and the wrap-style community is the second Houston asset to be added to the RPM Multi-Family Fund I portfolio.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20221201005030/en/

Ashton on West Dallas is located in Houston's Montrose submarket and is owned and operated by RPM Living. (Photo: Business Wire)

Located within walking distance to Houston’s expansive Buffalo Bayou Hike and Bike Trail, Ashton on West Dallas is in a highly convenient location with immediate access to the city’s central business district and multiple city parks. Surrounded by Houston’s most vibrant entertainment districts and attractions, the community is near a variety of neighborhood bars and retail that make up the Montrose, Midtown, and Washington Ave. neighborhoods.

Built in 2013, Ashton on West Dallas features 246 units with 10-foot ceilings throughout, elevator-serviced corridors, and a stand-alone 24-hour fitness studio. Modern one- and two-bedroom residences have floor-to-ceiling windows, wood floors, and stone counters.

"Ashton on West Dallas provides us great opportunity with the potential for outsized rental growth given the area’s limited construction pipeline and Class A absorption projected to remain strong in light of the increased cost of home-ownership and Houston’s consistent population growth," says Hank Farrell, Chief Executive Officer of RPM Living Investments.

The acquisition was financed by Amerant Bank. For more information on RPM Investments, visit RPMLivingInvestments.com.

Project Highlights

Owner:

 

RPM Living

Multifamily Manager:

 

RPM Living

Developer/Builder:

 

Alliance Residential

Location:

 

Houston, TX

Opened:

 

2013

Number of units:

 

246

Unit mix:

 

1 and 2 bedrooms

About RPM Living

RPM Living is a full-service multifamily management company offering an innovative and personalized approach to real estate services including management, investment and development. Headquartered in Austin, Texas, RPM is ranked #7 on the NMHC Top 50 Largest Apartment Manager list, managing more than 100 clients, nine regional offices and 112,000 units, with an owned portfolio of $3 billion. Founded by Jason Berkowitz in 2002, the firm has grown to over 2,500 associates nationwide spread across over 35 markets, all of whom share the collective vision to enhance clients’ investments through customized solutions and exceptional resident-centric service. To learn more about RPM, visit RPMLiving.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221201005030/en/

Contacts

Suzanne Koch
Marketing Communications Manager
Suzanne.koch@rpmliving.com