In a joint acquisition, Houston-based developer Midway and LA-based investment firm Arc Capital Partners have purchased the Sabine Street Lofts in Houston.

The complex, built in 2001, consists of 198 one- and two-bedroom apartments. All units are furnished with quartz countertops, in-unit washers and dryers, and private patios.

“Midway is excited to partner with Arc,” said Midway president and COO Jamie Bryant. “The principals of our firms have a longstanding relationship, and we plan to target similar opportunities in well-located Texas markets where projects like Sabine Street can be a win-win for residents, investors and communities in urban infill neighborhoods.”

Many of the units at Sabine Street Lofts will be used for workforce housing as part of Midway’s MPact program.