ELIM Investment Management Inc., a real estate investment and management company specializing in rental housing, announced the acquisition of The Grand at Manor, a 271-unit apartment community built in 2021 in the City of Manor, within the Austin MSA, Texas. The property was purchased in partnership with and will be managed by Texas-based developer Presidium.
“We are thrilled to add The Grand at Manor to our portfolio,” said Harvey Li, CEO of ELIM Investment Management Inc. “This acquisition perfectly aligns with our strategy of acquiring high-quality investment opportunities in thriving locations. The Grand at Manor is among the top-performing multifamily assets in our portfolio within the Austin-San Antonio corridor. Its location in the growing technology and advanced manufacturing hub provides convenient access to top employers in the region, including Samsung, Applied Materials, and Tesla HQ, all within a 5-20 minute commute.”
The Grand at Manor is one of the newest luxury apartment communities in Manor, Texas. Conveniently located just north of Highway 290, it offers quick access to both downtown Manor and the neighboring cities of Austin, Round Rock, and Pflugerville. “ELIM has been an active participant in the North American rental housing market for nearly a decade,” said Stanley Kung, Managing Director of ELIM Investment Management. “The Grand project is a fantastic addition to our growing portfolio and perfectly complements our strategy of investing in high-quality real estate assets, including student housing, built-to-rent communities, and multifamily properties. Since 2018, we have significantly increased our investments in multifamily development projects through joint ventures with several leading private multifamily builders across the United States. Our first project, Palmore, a 336-unit Class A apartment community in Sarasota, Florida, was successfully sold to a private equity firm within three years of completion, achieving a stabilized occupancy rate of 93%. We recognize the growing demand for rental housing and are actively seeking new investment opportunities in partnership with reputable builders.”
This acquisition of The Grand at Manor is ELIM’s sixth investments in Q4 2024, reflecting ELIM’s continued growth and commitment to expanding its portfolio of high-quality rental housing assets across North America. The company plans to continue its strategic investments in the growing rental housing market, partnering with leading developers to identify and acquire promising opportunities.
