Add-on Acquisition • Real Estate

37th Parallel Properties Acquires Cashel Springs Apartments

On September 30, 2019, 37th Parallel Properties acquired real estate company Cashel Springs Apartments

Acquisition Context

This is 37th Parallel Properties’ 1st transaction in the Real Estate sector.
This is 37th Parallel Properties’ 1st transaction in the United States.
This is 37th Parallel Properties’ 1st transaction in Texas.

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M&A Deal Summary
Date	September 30, 2019
Target	Cashel Springs Apartments
Sector	Real Estate
Buyer(s)	37th Parallel Properties
Deal Type	Add-on Acquisition

Target Company

Cashel Springs Apartments

Houston, Texas, United States

Cashel Springs Apartments provides residents with a long list of must-have amenities and a stress-free commute to Downtown Houston. Built-in the 1980's, the property features private balconies, walk-in closets, a fitness center, clubhouse, detached garages, and two swimming pools.

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Buyer Overview 1

Buyer

37th Parallel Properties

Richmond, Virginia, United States

Category	Company
Founded	2008
Sector	Real Estate

DESCRIPTION

37th Parallel Properties is a privately-held, multifamily real estate investment firm has acquired and managed over 4,500 units valued at approximately $495 million across the Southeast and Texas on behalf of high net worth, family office, and institutional investors.

Deal Context for Buyer	#
Overall	1 of 1
Sector: Real Estate	1 of 1
Type: Add-on Acquisition	1 of 1
State: Texas	1 of 1
Country: United States	1 of 1
Year: 2019	1 of 1

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