Raphael Toledano Closes $31.5 Million Sale of 324-Unit Houston Apartment Community

The sale of Holly View Apartments is one of three recent deals totaling more than $90 million, as the multifamily investor sharpens his portfolio around larger properties.

HOUSTON, Oct. 28, 2026 /PRNewswire/ -- Raphael Toledano, the founder and chief executive of Sorrento Property Group, has sold Holly View Apartments, a 324-unit garden-style community in northwest Houston, for $31.5 million.

The buyer of the property, at 5555 Holly View Drive, was Accel Equity Group. The price works out to roughly $97,222 a unit. Matt Wideman of Newmark, the national commercial real estate advisory firm, represented Sorrento Property Group, the seller.

The Houston sale is one of several recent Sorrento Property Group transactions totaling more than $90 million. The New York-based firm also sold Avani North, a 325-unit community in Tucson, Ariz., for $31.5 million, and two Florida communities, in Pembroke Pines and Pensacola, for a combined $30 million.

"Holly View was an exceptional property, and this transaction reflects both the strength of the Houston market and everything we built there," Raphael Toledano said.

A resilient market

The deal points to continued investor demand for well-located garden-style housing in Houston, even as transaction activity has slowed across parts of the broader Sunbelt. The metropolitan area's population growth, diversified employment base and relative housing affordability have helped sustain apartment fundamentals.

Holly View sits in Houston's Northwest submarket, an area that has consistently drawn renters with its access to major employment centers, shopping and recreation. The community offers one- and two-bedroom floor plans, a resort-style pool, landscaped grounds and covered parking, the profile of property Sorrento Property Group has long favored.

Ownership over volume

For Raphael Toledano, the sale reflects a consistent philosophy. Rather than chasing acquisitions or transaction volume for its own sake, Sorrento Property Group looks for properties where active ownership, operational improvements and patient investment can improve both the asset and the daily lives of the people who live there.

When a property's business plan has run its course, Sorrento sells and puts the capital to work in the next opportunity.

"We don't measure ourselves by how many doors we own," Raphael Toledano said. "We measure ourselves by what we leave behind — a better-run community, residents who want to stay, and a property that is stronger than the day we bought it. Holly View is a good example of that."

Discipline in a selective market

The quarter's three sales share a common thread. Each involved a well-performing property sold into steady buyer demand, with the proceeds earmarked for larger communities, where scale supports stronger on-site teams and more meaningful capital improvements. Sorrento Property Group, which owns and operates garden-style communities in 13 states, has said it will favor fewer, larger properties in high-growth markets over a broad collection of smaller ones.

Next steps in Texas

Texas remains part of that plan. Sorrento Property Group intends to keep evaluating larger garden-style communities in Houston and in other fast-growing Texas metropolitan areas, where it believes hands-on ownership can make a measurable difference for residents.

The firm is also expanding in Florida, where it is in contract to acquire $60 million of institutional-quality multifamily assets in Jacksonville, the state's most populous city.

"Texas taught us a great deal, and we intend to keep growing here," Raphael Toledano said. "At the same time, we're in contract on $60 million of institutional-quality assets in Jacksonville. Wherever we invest, the goal is the same: better homes and stronger communities."

Media Contact
Raphael Toledano
Sorrento Property Group
(212) 224-9527
[email protected] 
sorrentoprop.com
linkedin.com/in/raphael-toledano-sorrento

SOURCE Sorrento Property Group