Pool at Redford Park Apartments.

ClearWorth Capital Acquires 213-Unit Redford Park Apartments in Conroe, Texas

CONROE, Texas — ClearWorth Capital has completed the acquisition of Redford Park Apartments, a 213-unit, Class B multifamily community located in Conroe, just north of Houston. The transaction, facilitated by CBRE on behalf of the seller, adds a strategically located asset to ClearWorth’s growing portfolio as the firm pursues value-add apartment investments across Texas.

Investment Focus and Strategy

ClearWorth Capital is actively targeting value-add multifamily properties in Texas markets that offer strong rental demand and growth potential. According to Jordan Tabbert, the firm’s vice president of acquisitions, Redford Park presented an appealing opportunity because it is a well-maintained property situated in one of the fastest-growing suburbs in the United States. The community’s location and asset condition align with ClearWorth’s strategy of acquiring properties where targeted capital improvements and operational enhancements can drive long-term performance and increased returns.

Ownership and Management Team

ClearWorth is a Texas-based partnership formed by the principals of two established regional firms: Dallas-based Seneca Investments and Houston-based NOI Property Management. The partnership is led by Warren Stone, Matthew Stone and James Marfuggi. Together, the ClearWorth partners currently manage a portfolio valued at approximately $400 million, leveraging deep regional experience in multifamily acquisition, repositioning and property management.

Asset Profile and Market Context

Redford Park Apartments is a mid-market, Class B community whose demographics and location provide a strong foundation for improving operational performance through focused upgrades and professional management. Conroe, located north of Houston, has experienced significant population and employment growth in recent years, driven by expanding residential development and improved transportation and amenities. These trends have created favorable conditions for multifamily owners seeking to capitalize on rising rental demand in suburban markets.

By targeting properties like Redford Park, ClearWorth aims to take advantage of market fundamentals that support sustainable income growth: proximity to job centers, accessible commuter routes into Houston, and a steady influx of residents seeking suburban housing alternatives. The firm’s approach typically involves assessing unit interiors, amenity packages, and onsite operations to identify practical, value-enhancing initiatives that improve resident satisfaction and stabilize occupancy while increasing net operating income over time.

Transaction Details and Next Steps

CBRE represented the seller in the disposition of the asset; ClearWorth did not disclose specific financial terms of the transaction. Following closing, ClearWorth is expected to implement a value-add business plan that may include targeted capital improvements, upgraded resident services and operational optimizations through NOI Property Management’s platform. These enhancements are intended to strengthen resident retention and support long-term asset appreciation while maintaining the community’s appeal to current and prospective residents.

Leadership Commentary

“Redford Park presented an excellent opportunity to invest in a well-maintained asset in one of the fastest growing suburbs in the country,” said Jordan Tabbert. The acquisition reflects ClearWorth’s broader thesis of acquiring mid-market multifamily properties in high-growth Texas submarkets where disciplined improvements and professional management can drive meaningful returns for investors.

Outlook

As ClearWorth continues to expand its presence across Texas, the firm remains focused on identifying assets with clear paths to improvement and stable cash flow profiles. The combination of local market expertise from Seneca Investments and NOI Property Management’s day-to-day operational capabilities positions ClearWorth to execute its value-add strategies across the portfolio.