Source: ClearWorth Capital
HOUSTON, TX - ClearWorth Capital announced its recent off-market acquisition of Parc at Woodmoor Apartments. 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.