Exclusive: Eaton Vance Buys 360 Units in Houston
The buyer took out a Fannie Mae loan.
Eaton Vance Real Estate Investment Group has acquired Elite 99 West, a 360-unit multifamily property in Katy, Texas, according to Yardi Matrix information. Electra America sold the Houston-area asset.
The buyer took out a $40 million Fannie Mae loan originated by Walker & Dunlop, the same data provider shows. The property previously traded in September 2019, when Electra America acquired the asset from Greystar.
The 2016-completed community is at 23400 Kingsland Blvd., close to a host of dining and retail options, including the Park Plaza Centre shopping mall. Downtown Houston is 27 miles east, while George Bush Intercontinental Airport is about 41 miles away.
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Elite 99 West encompasses 15 three-story residential buildings across more than 18 acres. Units have one-, two- and three-bedroom floorplans varying from 673 to 1,452 square feet. Apartments have private balconies or patios.
Shared amenities include an infinity pool with lounge seating and tanning shelf, outdoor kitchen with lounges, gaming center, coffee bar, fitness center and a clubhouse. The community also has jogging paths and more than 490 parking spaces.
Houston multifamily sales on the rise
Houston’s multifamily transaction activity in 2025 clocked in at $3.3 billion from the 178 assets—47,277 units—that traded, Yardi Matrix data shows. The total sales figure is almost 20 percent higher than the one registered in 2024, when $2.8 billion in assets changed hands.
In one of the largest single-asset transactions of last year, Camden Property Trust sold Marquis Enclave, a 647-unit community in Huston. CWS Capital Partners bought the asset using funds from a $80.6 million Freddie Mac loan.
