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Classified in: Business
Subject: RLE

ClearWorth Capital Acquires 220 Units in the Woodlands Suburb of Houston


HOUSTON, March 10, 2022 /PRNewswire/ -- Built in 1999, Parc at Woodmoor is a Class B, 220-unit asset located in The Woodlands submarket of Houston.  Parc at Woodmoor offers one and two-bedroom units along with a pool, clubhouse, and detached garage units.  The property is surrounded by numerous high-end shopping centers, restaurants, and new single-family development. 

"We are thrilled to be entering this highly sought-after submarket in Houston," said Jordan Tabbert, SVP of Investments.  "The Woodlands has solidified itself as arguably the best suburb in Houston.  The area continues to attract new residents due to award-winning schools, high-quality retail and dining, and a diverse employment base.  Parc at Woodmoor's location offers easy access to the surrounding amenities with pricing at an exceptional value to residents.  The property will benefit immediately from a new professional management team in addition to targeted capital improvements."

New ownership will implement a multimillion-dollar renovation plan including new unit interiors, social amenities, and exterior enhancements.

ClearWorth Residential, an affiliate of ClearWorth, will be the new management company.

About ClearWorth Capital

ClearWorth Capital is a Texas-based multifamily owner and operator, managed by Matthew Stone. During his career, Mr. Stone has been part of the sponsor team for over $1.2 billion in commercial real estate development and renovation projects. His development experience includes 37 projects, including over 6,000 multifamily units, as well as senior housing, student housing, townhomes, condominiums, office buildings, and hotels.  Through ClearWorth Capital and its predecessor companies, Matthew has also acquired and renovated 20 multifamily projects totaling almost 5,000 units.

ClearWorth Capital is seeking value-add multifamily opportunities throughout Texas. For acquisition opportunities, please contact Jordan Tabbert via email: [email protected] or by phone: 713-384-5647.

 

Follow ClearWorth Capital: https://www.clearworthcapital.com/

SOURCE ClearWorth Capital LLC


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