Houston-based real estate investor and manager Hilltop Residential is moving into ground-up apartment construction and management with the launch of its Hilltop Residential Development division.
Through this new operating arm, Hilltop intends to build high-quality multifamily properties in high-growth U.S markets. The properties will emphasize sustainable design, integrate technology and include thoughtfully planned amenities, according to the news release.
The company has multiple multifamily projects already in the pipeline, and expects to break ground on its first within the next year.
To lead the new division, Hilltop has appointed Eric Overton as managing partner of Hilltop Residential Development. Overton has over 20 years of experience in multifamily development, and has overseen the construction of 8,900 units across 25 projects, according to the release.
His previous roles include managing director at Dallas-based DHI Communities and vice president at Dallas-based JLB Partners, according to his LinkedIn profile.
"We are thrilled to introduce Hilltop Residential Development as the next chapter in our company's growth," said David Wylie, managing partner of Hilltop Residential, in the release. "With Eric at the helm, we are confident in our ability to deliver outstanding communities that serve the needs of today's renters."
As an owner and operator, Hilltop Residential has acquired more than 50 properties in Florida, Georgia, North Carolina, Tennessee and Texas. It currently operates 37 properties with a total of 10,136 units and a combined value of $2.1 billion, according to the company website.
