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| Steeplecrest, a 260-unit, garden-style apartment community in Northwest Houston’s Jersey Village submarket |
HOUSTON, TX – JLL announced it has closed the sale of Steeplecrest, a 260-unit, garden-style apartment community in Northwest Houston’s Jersey Village submarket.
JLL marketed the property exclusively on behalf of a joint venture between WillMax Multi-family Investors, L.P. and Thackeray Partners, and procured the buyer, ClearWorth Capital.
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| Chris Curry |
Steeplecrest is located at 11220 West Road near major roadways, including Highway 290, Beltway 8 and F.M. 1960.
Completed in the 1990’s, the well-maintained property consists of 13 two- and three-story buildings that house a variety of one- and two-bedroom units averaging 845 square feet.
Apartment home amenities include features such as stainless steel appliances, refinished countertops, glass backsplashes, custom cabinetry, kitchen pantries, built-in bookshelves, walk-in closets, in-unit washers and dryers, and private patios and balconies.
Common area amenities include resort-style pools with water features, poolside gazebos with grills and bar seating, a modernized clubhouse, 24-hour fitness center, business center and covered parking.
The JLL Capital Markets team representing the seller was led by Senior Managing Directors Chris Curry and Todd Marix and Analyst Estee Ibáñez.
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| Estee Ibáñez |
“The Jersey Village/Cypress submarket is very popular with workforce housing buyers because there are limited Class A options and no new supply,” Curry said.
“Class B assets like Steeplecrest offer Class A performance with rent levels above its peers elsewhere in the city. The demographics and schools in the area are strong as well, which drives healthy and sustained demand for the apartments.”
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers.
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| Todd Marix |
The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization.
The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: U.S. newsroom.
About ClearWorth Capital:
Steeplecrest is the 12th renovation undertaken by ClearWorth Capital. ClearWorth is teaming up with Houston-based NOI Property Management, continuing a long partnership between the two companies.
ClearWorth Capital is led by Matthew P. Stone, it's Managing Partner and CEO.
Throughout his career, Mr. Stone has developed or acquired more than 7,000 apartment units, and in excess of $1 billion in commercial real estate across multiple property types.
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| Jordan Tabbert |
Throughout his career, Mr. Stone has developed or acquired more than 7,000 apartment units, and in excess of $1 billion in commercial real estate across multiple property types.
ClearWorth Capital is seeking value-add multifamily opportunities throughout Texas. For acquisition opportunities, please contact Jordan Tabbert at jtabbert@clearworthcapital.com
Contact:
Olivia Hennessey
JLL Public Relations Specialist
Phone: +1 713 852 3403
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