While active in Texas since 2014, RailField has acquired its first multifamily community in Houston. In a joint venture with Artemis Real Estate Partners, the multifamily investment and management firm purchased Dolce Midtown, a 201-unit Class A property, in the city’s Midtown neighborhood.
Railfield and Artemis Real Estate Partners have worked together for nearly a decade, with this being their fifth transaction—all of which have been in Texas.
“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.”
Built in 2020, Dolce Midtown comprises two five-story buildings. Units feature large walk-in closets, private patios or balconies, kitchen islands, designer lighting, built-in desks and shelving, built-in Bluetooth speakers in the living area, stainless steel appliances, solid surface countertops, tile backsplashes, and full-size washers and dryers.
Residents also have access to a clubhouse, a fitness center, a pool, a fire pit, two outdoor kitchens with grills, a game room, a business center, and multilevel parking. According to RailField, it plans to further enhance the amenities as part of its business plan.
RailField, which was founded in 2013 by former Fannie Mae multifamily executives, has assets in 11 markets in the Mid-Atlantic, Southeast, and Texas.