Casa Verde Apartments – Houston, TX

Investment Summary:

The Casa Verde Apartments is a 384-unit, garden-style community that was opened in 1971. Located just east of I-45 North and south of the Beltway 8/Sam Houston Tollway, the Property offers residents easy access to major employers, shopping, dining and entertainment throughout north and northwest Houston. The Pinto Business Park area, just south of Greenspoint, is characterized by a stable working class resident profile and a large base of logistics / service employers. The rapidly growing Pinto Business Park, the largest fully entitled, contiguous tract of land inside Beltway located just across I-45 North from the Property. The Pinto Business Park is driving housing demand by bring jobs to the area, with 6,500 current jobs in place, another 2,500 to be added by the end of 2017, and an expected total of 12,000 within two years. Ongoing development is improving the overall economy around the Property and retail occupancies are generally
very high.