Richmond, VA – July 17, 2014 − 37th Parallel Properties (“37th Parallel”), a total return focused commercial multifamily acquisitions and asset management firm, announced today it has recently closed on Vanderbilt Court Apartments in Houston, TX.

Vanderbilt Court Apartments, located at 12630 Ashford Point Dr., Houston, TX, is a 164-unit apartment complex made up of 43 one-bedroom and 121 two-bedroom apartments.

Chad A. Doty, CEO of 37th Parallel commented on the acquisition, ”Houston continues to lead the way in population and job growth. It’s a superb market for multifamily acquisitions and operations and we are pleased to add another Houston-based asset to our portfolio.”

Vanderbilt Court represents the fourth acquisition by 37th Parallel in the Houston market and is located in the desirable Briar Village submarket. Dan Chamberlain, COO of 37th Parallel noted “Our experience in the Houston market provides a high level of confidence that we can bring Vanderbilt Court’s performance up to market levels and deliver strong returns for our investors.” Property amenities include a clubhouse,  2 resort-style swimming pools, business center and a fitness center.

37th Parallel Properties provides commercial multifamily investment and asset management services for select private clients across the United States and Internationally. To learn more, call 888.837.3720.