HOUSTON, March 19, 2019 /PRNewswire/ -- ClearWorth Capital, LLC is pleased to announce its recent acquisition of Arbors on Saratoga, a 252-unit Class B multifamily asset located in Corpus Christi, Texas.
The project, which was constructed in 1998, is near several significant demand drivers, including Texas A&M Corpus Christi and one of the largest health care and surgical centers in South Texas. Community amenities include an expansive clubhouse with a conference room and business center, fitness center with free weights, large pool with WiFi access, outdoor kitchen and picnic area, shaded pet park, sport court and detached garages.
New ownership will soon implement a thorough overhaul of the interior and exterior features of the property, including improvements to existing social areas and creating new amenities. All unit interiors will receive a full upgrade, including new flooring, cabinet fronts, countertops, appliances, window treatments, technology upgrades, lighting and plumbing fixtures, and kitchen backsplash. Additional enhancements includes new signage, landscaping redesign, fresh exterior paint scheme, and a new poolside kitchen.
About ClearWorth Capital
Arbors on Saratoga will be the tenth renovation undertaken jointly by the principals of ClearWorth Capital, a partnership comprised of the principals of Dallas-based Seneca Investments, and Houston-based NOIPM (NOI Property Management).
ClearWorth partners' Warner E. Stone, Matthew P. Stone and V. James Marfuggi own and manage several thousand apartment units valued over $400 Million, and we seek to expand our presence by judicious investment and acquisition. Our principals have devoted entire careers to the multifamily industry and have financed, developed and managed over $1.5 billion in assets. NOI Property Management, a ClearWorth affiliate, is the manager of record for all multifamily assets in the portfolio.
ClearWorth Capital is seeking value-add multifamily opportunities throughout Texas. For acquisition opportunities, please contact Jordan Tabbert through [email protected].
SOURCE ClearWorth Capital, LLC