324-Unit, New Construction Asset in the Conroe, Texas, the Most Highly Occupied Submarket of Houston
Current Rents Well Below Market, Allowing Significant Organic Rent Growth – Immediate Submarket Experienced 17.6% Annual Rent Growth in 1Q22 (RealPage Data)
Minimal New Supply (317 Units), Presenting an Attractive Lease-Up Environment
Convenient Location Near Interstate 45 and Loop 336, Allowing Residents Access to The Woodlands and Conroe’s High-Profile Employment Centers, Retail Destinations, and Entertainment Hubs
Attractive In-Place Assumable HUD 221(d)(4) Loan at +/- $42.6 Million, 40-Year Term and Amortization at 3.1 % Fixed Plus 25 BPS MIP
Rapid Lease-Up Velocity - 14 Net Leases Per Week on Average
