More Value-Add Multifam in Texas: ClearWorth Capital secures Project, Searching

Pool at Redford Park Apartments.

In Conroe, Texas, ClearWorth Capital purchased the 213-unit Redford Park Apartments, a Class B project in Conroe, north of Houston. CBRE represented the seller.

ClearWorth is seeking value-add multifamily investments in Texas, said the firm’s Jordan Tabbert, VP of acquisitions.

In ClearWorth is a Texas partnership led by the principals of Dallas, based Seneca Investments and Houston-based NOI Property Management. ClearWorth partners Warren Stone, Matthew Stone and James Marfuggi own a $400 million portfolio.

“Redford Park presented an excellent opportunity to invest in a well-maintained asset in one of the fastest growing suburbs in the country,” said Tabbert.