Property update: Lakewood Apartment acquisition in Houston, TX
The project is expected to generate an annualized return of roughly 15.3%, net IRR, by CalTier Fund I LP partners. Disclaimer: The realized return on an individual project may vary significantly from your portfolio-level return as a CalTier investor. The CalTier Fund investment in the 88-unit apartment home community in a suburb of Houston officially closed in late March 2021. The property was sourced off-market through a proprietary relationship with the owner. The submarket continues to show strength in overall occupancy (94%) and rental growth rates. Lakewood sits at the lowest level of the overall comp set for rental ...
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