HOUSTON, TX – RPM Living announces the acquisition of Ashton on West Dallas in Houston s Montrose submarket, in the heart of the city s urban core. The acquisition marks RPM s 17th acquisition in the greater Houston area and the wrap-style community is the second Houston asset to be added to the RPM Multi-Family Fund I portfolio.
Located within walking distance to Houston s expansive Buffalo Bayou Hike and Bike Trail, Ashton on West Dallas is in a highly convenient location with immediate access to the city s central business district and multiple city parks. Surrounded by Houston s most vibrant entertainment districts and attractions, the community is near a variety of neighborhood bars and retail that make up the Montrose, Midtown, and Washington Ave. neighborhoods.
Built in 2013, Ashton on West Dallas features 246 units with 10-foot ceilings throughout, elevator-serviced corridors, and a stand-alone 24-hour fitness studio. Modern one- and two-bedroom residences have floor-to-ceiling windows, wood floors, and stone counters.
Ashton on West Dallas provides us great opportunity with the potential for outsized rental growth given the area s limited construction pipeline and Class A absorption projected to remain strong in light of the increased cost of home-ownership and Houston s consistent population growth, says Hank Farrell, Chief Executive Officer of RPM Living Investments.