Multifamily operator Bodka Creek Capital acquired Valencia Grove Apartments, a 460-unit complex in Houston, Texas.

The firm plans to execute a value-add strategy that revitalizes the exterior, interior and common area amenities. Improvements will include the addition of a new playground and walking trail, updating the resort style pool area, enhancing property building systems, and renovating unit interiors.

The Houston-based Bodka owns over 1,000 multifamily units and is the largest African-American, woman-owned multifamily operator in the United States. “Valencia Grove exemplifies our multifamily value-add acquisition strategy and our emphasis on utilizing investment as a tool to build and improve communities,” Allyson Pritchett, Founder & CEO at Bodka Creek Capital, said. “Our past investments showcase our focus on the transformation of properties into high quality / budget friendly housing while building strong communities, a product which is increasingly in short supply. With the Southeast seeing such tremendous growth, we feel investments like these will be ever more important for the region into the future.”