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HOUSTON – Clearworth Capital LLC has acquired Ponderosa Apartments, a 177-unit Class C multifamily asset in the 1960/Champions neighborhood.
Built in 1979, the community sits on 6.9 acres at 17033 Butte Creek Rd. and consists of 17 two-story buildings. Ponderosa has one-, two-, and three-bedroom floor plans averaging 854 sf.
Clearworth is planning interior and exterior renovations. An affiliate of Clearworth, NOIPM, will manage the property.
Hayden Properties was the seller. Northmarq Capital arranged the debt and equity financing.
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