HOUSTON – (Realty News Report) – AXA IM Alts, a Paris-based investment firm, has acquired a 271-unit multifamily community in the LaCenterra development in Katy on Houston’s west side. The property, known as The Grand at LaCenterra, was developed in 2016 by the Martin Fein organization and sits within the mixed-use LaCenterra at Cinco Ranch along the Grand Parkway.
The acquisition was completed as a joint venture with Austin-based RPM Living. AXA IM Alts, which manages a global residential portfolio valued at approximately $27 billion, said the purchase reinforces the firm’s confidence in the Houston market. In a statement, Andrew Piekarski, Director of U.S. Acquisitions at AXA IM Alts, highlighted Houston’s expanding population, strong transportation links and the defensive qualities of well-located residential assets as drivers for stable income generation and long-term value creation for the firm’s clients.
AXA IM Alts operates within the broader AXA Group, a global insurance and asset-management organization. The investment platform employs more than 2,440 people across 27 offices in 20 countries. Piekarski noted that AXA IM Alts maintains a global real estate investment strategy and a healthy pipeline of opportunities across real asset classes. He added that RPM Living’s operational scale and expertise as one of the largest integrated multifamily management firms in the United States will be an important advantage for the joint venture.
The Grand at LaCenterra is part of a 34-acre mixed-use development built by Woody Mann of Houston-based Vista Companies. LaCenterra at Cinco Ranch combines retail, office, residential and communal spaces and has become a prominent center for shopping and living on the Grand Parkway corridor.
This transaction underscores continued investor interest in Houston’s multifamily sector, where demographic growth, rental demand and transportation connectivity support multifamily fundamentals. Market observers point to strong in-migration, a diverse employment base and relatively affordable housing costs as themes that continue to attract institutional capital to the region.
About the parties involved:
- AXA IM Alts: A global investment platform within the AXA Group focused on real assets, with a sizable residential portfolio and a presence across multiple countries.
- RPM Living: An Austin-based, fully integrated multifamily management and investment firm known for operating large-scale rental communities across the United States.
- Martin Fein organization: Developer of The Grand at LaCenterra, which delivered the property in 2016.
- Vista Companies: Houston-based development firm led by Woody Mann, responsible for constructing the LaCenterra at Cinco Ranch mixed-use project.
Transaction and property highlights:
- Property name: The Grand at LaCenterra
- Units: 271
- Location: LaCenterra at Cinco Ranch, Grand Parkway, Katy (west Houston)
- Developer: Martin Fein organization (2016)
- Acquirers: AXA IM Alts (joint venture with RPM Living)
The deal reflects broader trends in U.S. multifamily investing, where institutional buyers continue to target well-positioned suburban and mixed-use communities that combine accessibility with lifestyle amenities. For AXA IM Alts, the purchase complements an existing U.S. multifamily presence and aligns with the firm’s objective to source resilient income-producing real estate on behalf of its clients.
Image: Courtesy AXA IM Alts
Sept. 27, 2021 Realty News Report Copyright 2021
For more about Texas real estate, see the book Houston 2020: America’s Boom Town – An Extreme Close Up by Ralph Bivins.
File: Paris Firm Buys Houston Multifamily. AXA IM Alts.