Edge at City Centre ApartmentsHOUSTON, TX —The Edge at City Centre Apartments, a class B multifamily asset, was sold to ClearWorth Capital, LLC.
Built in 1983, the 284-unit complex includes two pools, a fitness center, a renovated clubhouse with business center, and washer/dryer connections in all units. The new ownership plans on renovating the interior and exterior features of the property including the existing social areas.
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HFF's Joey Rippel, Chris Young, and Connor Phillips represented the seller. BNOIPM, an affiliate of ClearWorth, is the new management company and BERKADIA's Nathan Stone arranged acquisition financing.
The Edge at City Centre is the ninth renovation jointly undertaken by the principals of ClearWorth Capital, a partnership between the principals of Dallas-based Seneca Investments, and Houston-based NOIPM (NOI Property Management).
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