Eaton Vance Expands Houston Portfolio with 360-Unit Katy Acquisition

Eaton Vance Real Estate Investment Group has purchased Elite 99 West, a 360-unit community in Katy, Texas, using a $40 million Fannie Mae loan.

By: AXL Media

Published: Mar 11, 2026, 4:45 AM EDT

Source: https://www.multihousingnews.com/

Strategic Financing and Ownership History

The $40 million Fannie Mae note reflects a stabilized financing strategy for Eaton Vance, taking advantage of agency debt to secure a 2016-vintage asset. Elite 99 West has a history of institutional ownership; it was previously purchased by Electra America from Greystar in September 2019. This latest trade underscores the continued liquidity and appeal of the West Houston submarket for major investment managers.

Asset Profile: Modern Luxury in a Top-Tier Suburb

Elite 99 West is a low-density, garden-style community situated on over 18 acres at 23400 Kingsland Blvd.

Structure: 15 three-story residential buildings.

Unit Mix: One-, two-, and three-bedroom floorplans ranging from 673 to 1,452 square feet.