ODESSA, Texas, April 29, 2025 /PRNewswire/ -- Altus Equity Group Inc. is proud to announce the acquisition of the Odessa Multifamily Portfolio—a collection of six garden-style apartment communities totaling 1,225 units in the high-growth Midland-Odessa region of West Texas-acquired, in part, through a strategic partnership with Wellings Capital.
The transaction closed in March and was made possible by the collaborative efforts of Drew Garza and the Dallas office of Marcus & Millichap IPA, Rocco Mandala and the CBRE debt team, and legal counsel from Phillips Murrah and Beyers Costin Simon.
Strategically located in the heart of the Permian Basin, these properties benefit from Odessa's booming energy economy and connectivity to major Texas cities. The Midland-Odessa area is ranked among the fastest-growing midsize metros in the U.S.
According to a recent GREA report, the region is expected to lead Texas in real GDP growth through 2029. With no new multifamily construction currently underway and median rents projected to rise 13.2% in 2025 , the Odessa market offers a compelling supply-demand dynamic for long-term value creation.
"We're entering this investment with a strong margin of safety and clear operational upside," said Andy Eicher, Senior Vice President of Investments at Altus Equity Group. "With high occupancy, assumable loans in place, and proven demand in the market, this portfolio is positioned to allow us to drive substantial value through disciplined management and asset enhancement, while providing critical workforce housing to the community"
The assets were previously institutionally managed and present strong baseline fundamentals including a 92% occupancy rate and a forecasted year one yield, in excess of 10%.
This acquisition follows Altus Equity Group's recent purchase of Kennedale Light Industrial Park in the Dallas-Fort Worth and further demonstrates the firm's strategic focus on high-growth Texas markets. By deepening its multifamily footprint in Odessa and expanding its industrial holdings in DFW, Altus continues to execute on its commitment to acquiring underperforming assets in economically resilient regions with strong value-add potential.
About Altus Equity Group Inc
Altus Equity Group is a privately held real estate investment firm specializing in multifamily and industrial assets across the United States. With a team focused on uncovering hidden value through innovative deal structuring, disciplined financing, and operational excellence, Altus is dedicated to delivering an out-of-this-world experience for its investor community.
The firm operates across three core verticals: real estate acquisition, property management, and private lending—serving both institutional and individual investors. With over $600 million in assets under management and a 93% investor reinvestment rate, Altus stands as a trusted sponsor with a track record of performance and creativity.
Altus maintains offices in Chico, CA; Austin, TX; and Greenville, SC.
Altus Equity Group contacts:
Forrest Jinks: fjinks@altusequity.com
Andy Eicher: aeicher@altusequity.com
Chad Richards: crichards@altusequity.com
Media Contact:
James McGee
6198651551
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SOURCE Altus Equity Group
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