Civitas Capital Expands Houston Footprint
The company acquired a recently completed 300-unit community.
Cathedral Lakes. Image courtesy of Civitas Capital Group
Civitas Capital Group has bought the 300-unit Cathedral Lakes in Spring, Texas. The seller, Wood Partners, delivered the luxury property a year ago.
The eight-building community offers one- to three-bedroom units, ranging from 723 to 1,564 square feet, according to Yardi Matrix data. Community amenities include a fitness center, business center, clubhouse and pool. A total of 490 parking spaces are also available.
Located at 698 Basilica Bay Drive, the community is 27 miles north of downtown Houston, via Interstate 45. Several retail, dining and entertainment options are available within 2 miles of the community. Old Town Spring is 4 miles south, while nearby headquarters include HP, Southwestern Energy and Exxon Mobile.
The community is Civitas Capital Group’s sixth multifamily acquisition since this past summer, and the third in the Houston MSA. Rootvik Patel, investments director for Civitas Capital Group, said in prepared remarks that the property is their second acquisition in recent weeks. In August, the company also bought the 288-unit Territory at Greenhouse in Houston.
