Hamilton Point Sells Texas Multifamily Property, Returning $20M to Investors
Real estate investment firm Hamilton Point Investments LLC announced the full-cycle sale of Forty649 North Hills from HPI Real Estate Fund VIII.
Forty649, an apartment complex in El Paso, Texas, was acquired in April 2021 for $43 million and sold in February 2026 for $51 million, representing an increase of nearly 20%. According to the company, the sale allowed for $20 million to be returned to fund investors in a special distribution.
In proximity to Fort Bliss, the property offers one-, two-, and three-bedroom units with washer/dryer hook-ups in each apartment. Amenities include a resort-style pool, dog park, 24-hour fitness center, and on-site laundry facilities.
HPI Real Estate Fund VIII raised $115.5 million and closed to new investors in November 2020. The fund acquired 12 multifamily properties for approximately $250 million. To date, the fund has sold 10 properties and returned approximately 137% to investors, according to HPI. The remaining two properties in the fund are currently being marketed for sale, and the fund aims to go full-cycle by mid-2026.
“This sale highlights the strength of HPI’s disciplined investment strategy and our team’s ability to create value in dynamic market conditions. We are especially pleased with the returns delivered to our Fund VIII investors given the environment in which we deployed capital,” said Joshua Grenier, president of Hamilton Point Investments.
Hamilton Point’s full-cycle dispositions associated with HPI Real Estate Fund VIII include Yukon on 15th, a multifamily property in Oklahoma City that sold for $26.7 million; Tinker at Forty8, a multifamily property in Oklahoma City that sold for nearly $14.3 million; Edmond at Twenty500, a multifamily property in Edmond, Okla., that sold for $21 million; and The Den, a student housing apartment property located in Columbia, Mo., that sold for $27.5 million.
Earlier this year, the company launched its 10th Delaware statutory trust offering, HPI Farmhouse DST. The offering seeks to raise approximately $28.8 million from accredited investors. Its launch follows HPI Tremont DST that closed to new investors in November 2025 after raising $21.6 million in equity 42 days after its initial sale.
Since inception in 2009, Connecticut-based Hamilton Point Investments has acquired more than 35,000 apartment units for $4 billion. The firm, which has more than 320 employees, has taken 14 investment programs full cycle – seven funds and seven DSTs – all within a three- to five-year hold period. All full-cycle funds and DSTs generated a weighted average internal rate of return of 18%, according to the firm.
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