Three Pillars Capital Acquires The Life at Beverly Palms, Now Vista Azul Apartments, in Pasadena, TX

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Oct 24, 2024, 11:12 ET

HOUSTON, Oct. 24, 2024 /PRNewswire/ -- Three Pillars Capital, led by Gautam Goyal, has announced the acquisition of The Life at Beverly Palms, a 308-unit Class-C multifamily property located in Pasadena, TX. The acquisition is a significant milestone for the firm as it continues its trajectory toward $1 billion in assets under management. Upon acquisition, the property was renamed Vista Azul Apartments, reflecting the firm's strategic repositioning efforts.

Vista Azul Apartments, formerly known as The Life at Beverly Palms, is a 308-unit Class-C multifamily property in Pasadena, TX. The renaming reflects Three Pillars Capital’s strategic repositioning efforts.

Situated in Pasadena, a key hub of the Greater Houston Area's petrochemical industry, Vista Azul Apartments benefits from the city's economic strength and steady demand for quality housing. The property offers a mix of one, two, and three-bedroom apartments, with a comprehensive two-year renovation and repositioning program aimed at modernizing the property and enhancing its appeal to current and prospective residents.

Three Pillars Capital, a Houston-based real estate private equity firm, brings over two decades of combined experience in acquisitions and asset management. The firm currently manages over $600 million in high-performing assets, totaling approximately 4,500 units. This latest acquisition underscores its commitment to value-add strategies and its dedication to delivering superior returns to investors.

About Three Pillars Capital: Three Pillars Capital is a vertically integrated real estate private equity firm that specializes in acquiring and managing multifamily properties. With a strong focus on value-add strategies, the firm is dedicated to enhancing the quality of living for residents while delivering exceptional returns to its investors.

SOURCE Three Pillars Capital