Expanding our Portfolio in Houston
VIRGINIA BEACH, VA (April 27, 2023) – Croatan Investments (“Croatan”), a rental housing investment manager for private wealth and institutional capital, has made a preferred equity investment in District West, a 117-unit build-to-rent project in Houston, Texas. The community is currently under construction and is expected to be delivered by 2024.
The Croatan Outlook
“At Croatan, we’re excited to be a part of the growing build-to-rent segment,” said CEO Paul Van. “As homeownership continues to prove challenging for many families, build-to-rent communities provide an affordable and flexible option. With our build-to-rent platform, led by Ben Bartlett, we continue to evaluate opportunities in this space as we believe it presents excellent risk-adjusted returns.”
“We continue to evaluate opportunities in this space as we believe it presents excellent risk-adjusted returns.”
Property Details
Located in the heart of Richmond, Texas, District West will accommodate the rapidly growing population of the Houston metro area. The community will host 117 detached homes with an average size of 1,679 square feet and offer tenants the best of single-family living along with the flexibility and convenience of rental housing. Each home will feature a 2-car garage and private backyard or patio. The gated community will boast resort-style amenities including a swimming pool, community center, and dog parks. To execute on the investment, Croatan is partnering with a seasoned developer of condos and single-family homes in the Houston market.