RailField, a multifamily investment and asset management firm, today announced the acquisition of Dolce Midtown in the Midtown section of Houston, Texas.
Centrally located at 180 W. Gray Street, this Class A multifamily property offers 201 high-end rental units. The two five-story buildings were constructed in 2020 and provide residents with multiple community amenities, including a clubhouse, fitness center, pool, fire pit, two outdoor kitchens with BBQ grills, game room, business center, and multi-level parking garage.
RailField plans to further enhance community amenities as part of its business plan. Units at the property have large walk-in closets, private patios/balconies, kitchen islands, designer lighting, built-in desks and shelving, built-in Bluetooth speakers in the living area, stainless appliances, solid surface countertops, tile backsplashes, and full-size washers and dryers.
The acquisition of this property was a joint venture between RailField and Artemis Real Estate Partners, a Washington, D.C.-based investment manager. The firms have worked together for nearly a decade, and this is the fifth transaction in which they have partnered, all of which have been in the state of Texas.
While RailField has been active in the other major markets of Texas since 2014, this is the firm’s first acquisition in Houston. “We are excited to enter the Houston market and see a real opportunity to increase our presence while providing high-quality housing options to a growing city,” said Jon Siegel, co-founder and Chief Investment Officer at RailField.
“We were drawn to both the high-quality asset and the location in Midtown,” said Siegel.
About RailField
Founded in 2013 by former Fannie Mae multifamily executives who have worked with the largest players in the industry, RailField focuses on high-quality multifamily assets while seeking to minimize risk, generate above-market returns for its investors, and create a sense of community for its residents.
RailField’s footprint includes assets in 11 markets in the Mid-Atlantic, Southeast, and Texas. For more information, visit www.railfieldrealty.com.
About Artemis
Artemis Real Estate Partners is an investment manager based in metropolitan Washington, DC, with offices in New York City, Los Angeles, and Atlanta. Artemis has raised over $9.2 billion of capital across core, core plus, value-add, and opportunistic strategies. The firm makes equity and debt investments in real estate across the United States, with a focus on residential, industrial, office, retail, hospitality, senior housing, and medical office. Artemis specializes in joint venture partnerships and direct investments. More information can be found at www.artemisrep.com.
