Berkadia Arranges Sale and Finance of Garden-Style Workforce Multifamily Community in Houston, Texas
HOUSTON (June 29, 2022) – Berkadia announces it has arranged the sale and finance of Creekside Villas at Clear Lake, a 202-unit workforce housing community in Houston, Texas. Managing Directors Joey Rippel and Chris Young, Director Kyle Whitney, Managing Director Jeffrey Skipworth and Senior Managing Directors Chris Curry and Todd Marix of Berkadia Houston represented the seller, ClearWorth Capital, a multifamily owner/operator based in Addison, Texas.
Cutt Ableson of Berkadia Houston secured debt through Ready Capital on behalf of the buyer, a partnership between Trinnium Equity Group, a private equity firm based in Salt Lake City, Utah and Starboard Equity, based in Dallas, Texas.
“Creekside Villas at Clear Lake is in one of Houston’s best located suburbs with a healthy local economy, top rated schools and an affluent demographic which supports consistent demand for workforce housing,” said Joey Rippel.
Located at 707 El Dorado Boulevard, Creekside Villas at Clear Lake was built in 1979 and offers one-, two- and three-bedroom apartments ranging 1,100 square feet and 9,009 square feet. Individual units feature wood-style flooring, kitchen pantries, white, black or stainless-steel appliances, Formica countertops, frost-free refrigerators, ceiling fans in bedrooms, walk-in closets with wooden rods, private patios, decks or balconies. Select units include fireplaces, studies, brushed nickel hardware, dishwashers, linen closets, framed bathroom mirrors and full-sized washers and dryers. Community amenities include a cybercafé and resident lounge with a coffee bar, a resident kitchen, a natural stone swimming pool with a waterfall, a fitness center, a trellised poolside grilling area with propane grills, mature landscaping with open greenspaces and water features, a clothes care center on site, open and covered parking, valet trash service and perimeter fencing with controlled access.
Situated in Harris County, Creekside Villas at Clear Lake is in the fifth best school district in Houston, less than five miles away from NASA’s Johnson Space Center, the Boeing Corporate Campus, the Ellington Airport, the HCA Houston Healthcare Clear Lake and less than 30 minutes away from the Port of Houston.