Property Description

Built in 1998, the Property is a 240-unit apartment community totaling 222,672 net rentable square feet, situated on 9.63 acres with 388 parking spaces, including 60 carports and 60 detached garages. The Property is a Class-A apartment community with spacious interiors and attractive finishes. Community amenities include a clubhouse, fitness center, business center, resort-style swimming pool, spa, picnic and grilling area, and a dog park. The Property was renovated in 2021 and contains a mix of fully and partially renovated units as well as classic units.

Property Type

Multifamily

Structure

Delaware Statutory Trust

CF Palms
at Clear Lake Multi. DST

TX

Remaining Availability

15% Remaining

Total Funds
$50,570,000
Remaining Availability
$5,000,000
Minimum Investment
$250,000
Funded To Date
$27,570,000
Est. Hold Period
10 Years
Leverage
35.60%
Equity Raise
$32,570,000
Price/SF or Price/Unit
$210,708/Unit

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Location Details

 
 
 

Population

79,214

Population Growth

0.5%

About The Area

  • The Property is located approximately 24 miles southeast of downtown Houston within the master- planned Clear Lake City community in the southeastern part of Harris County. The community is adjacent to NASA’s Johnson Space Center, Ellington Field, and Baybrook Mall.
  • The Property has excellent access to two of Houston’s major arteries, Interstate 45 and Beltway 8, which connect residents to Houston’s major employment centers. Additionally, the Property is located near a retail corridor, including Kroger supermarkets, Walgreens, Walmart, and fast-casual dining restaurants.
  • The Property is within the Clear Lake Independent School District, which is one of the top ranked school districts in Houston.5

 

Sponsor

Cantor Fitzgerald is an American financial services firm that was founded in 1945. It specializes in institutional equity, fixed income sales and trading, and serving the middle market with investment banking services, prime brokerage, and commercial real estate financing.