The era of falling apartment rents looks to be nearly over. 

A spike in rents during the early years of the pandemic sparked a historic apartment construction boom in 2023 and 2024. That crush of new inventory, especially in hot Sunbelt markets like Austin and Phoenix, led to oversupply and caused rents to fall in much of the country.

Brooklyn’s population loss over the past five years could make one believe that securing housing in the borough should be a breeze.

Gaia REIT, the real estate investment trust division of New York-based Gaia Real Estate, purchased the Virage apartments in Houston, from Crow Holdings for an undisclosed price.

After a pandemic-caused absence, a New York City-based real estate investment company has reentered Houston with the acquisition of a luxury apartment complex in the Rice Military area.

Gaia Real Estate Holdings LLC closed on Virage on Memorial, a 372-unit property at 5292 Memorial Drive, last month, the company said.

Houston isn’t a new market for Gaia Real Estate. The New York City-based private equity group, founded in 2009, has owned a portfolio of 21 properties and more than 6,400 residential units in the city.

GAIA Real Estate has closed the acquisition of Virage on Memorial, a 372-unit class A apartment project in Houston.

This marks the third such purchase for GAIA’s fully discretionary REIT, following the acquisition of class A assets in Orlando and Nashville.

GAIA Real Estate acquired the Virage on Memorial, a 372-unit Class A apartment project in Houston. The purchase price was reported to be $83 million. This marks the third purchase for GAIA’s fully discretionary REIT, following the acquisition of Class A assets in Orlando and Nashville.

HOUSTON — New York City-based GAIA REIT has purchased Virage on Memorial, a 372-unit apartment community located about three miles west of downtown Houston. Built in 2014, the property offers one-, two- and three-bedroom units that range in size from 697 to 1,658 square feet.

REBusiness Online GAIA REIT has bought the 372-unit Virage on Memorial apartment property in Houston. Newmark brokered the deal for the seller, which was not identified. The purchase price also...

Stream Realty Partners announced the groundbreaking of Patriot Business Park, an industrial development at 10326, 10328 and 10330 Veterans Memorial Drive in the North Houston submarket.