In November 2016, CenterSquare Value-Added Fund III and its joint venture (JV) partner, CARROLL, acquired a well-located Class A multifamily property located in a premier submarket of Houston. While the current oil market was challenged at the time, the JV remained bullish on the long-term growth prospects for the broader Houston region and focused on a suburb that was not driven by the energy sector. The Property offered quality schools, safe neighborhoods and larger units, many with attached garages. The JV identified an opportunity to further upgrade the Property and provide an affordable living option for families in the area.
