Altus Equity Group Expands Its Multifamily Portfolio with Odessa Acquisition

In a strategic move, Altus Equity Group Inc. has successfully acquired the Odessa Multifamily Portfolio, a sizable collection of six garden-style apartment communities encompassing 1,225 units. This acquisition, closed in March 2025, was facilitated in collaboration with Wellings Capital, marking a significant addition to their real estate holdings in the rapidly growing Midland-Odessa region of West Texas. The region is presenting an impressive economic landscape, driven primarily by the booming energy sector.

The Midland-Odessa area is gaining recognition as one of the fastest-growing midsize metros in the United States, according to recent reports from the Greater Real Estate Association (GREA). The region is anticipated to lead Texas in real GDP growth through 2029. Observing the current market dynamics reveals that new multifamily construction is at a standstill, with median rents projected to see a remarkable rise of 13.2% by 2025. This creates a compelling supply-demand scenario, particularly for investors seeking long-term growth and stability in their portfolios.

Andy Eicher, Senior Vice President of Investments at Altus Equity Group, expressed enthusiasm about the acquisition. He stated, “We’re entering this investment with a strong margin of safety and clear operational upside.” The existing portfolio exhibits a commendable occupancy rate of 92%, alongside assumable loans which further bolster its appeal. Eicher pointed out that the strategic management and enhancement of the assets allow for substantial value creation while simultaneously addressing the community's demand for workforce housing.

The assets in the Odessa Multifamily Portfolio were previously under institutional management, which has equipped them with strong baseline fundamentals. Analysts forecast that the first-year yield will exceed 10%, making this an attractive investment for Altus Equity Group as they execute their strategy of acquiring and enhancing underperforming assets in economically resilient areas.

This acquisition follows Altus’s announcement regarding the purchase of Kennedale Light Industrial Park in the Dallas-Fort Worth area—a clear demonstration of the company's commitment to expanding its footprint in high-growth Texas markets. By strengthening their multifamily portfolio in Odessa while also diversifying their industrial holdings in DFW, Altus is strategically positioning itself for sustained growth in these key markets.

Altus Equity Group, a privately held real estate investment firm, specializes in multifamily and industrial assets throughout the United States. The firm prides itself on uncovering hidden value through innovative deal structuring, disciplined financing strategies, and operational excellence. With over $600 million in assets under management and a robust 93% reinvestment rate from investors, Altus has established itself as a trusted sponsor recognized for its performance and creativity in the real estate sector.

Operating out of offices in Chico, CA; Austin, TX; and Greenville, SC, Altus remains dedicated to delivering exceptional value for its investor community. With a focus on three core areas—real estate acquisition, property management, and private lending—the firm continues to attract both institutional and individual investors, emphasizing a commitment to operational excellence and strategic growth.

In summary, the acquisition of the Odessa Multifamily Portfolio signifies a major step for Altus Equity Group in solidifying its presence in lucrative markets while delivering critical housing solutions to the community. As the company persistently explores new opportunities, stakeholders can anticipate further developments from this innovative real estate firm.