Clear Sky Capital Acquires 192 North Park Apartments

Clear Sky Capital bought North Park Apartments, a 192-unit multifamily complex situated in the Greenspoint submarket of Houston. The Phoenix, AZ-based buyer ended up with the asset at 90 Northpoint Dr., with help from $10 million in financing, arranged by Andrew Behrens and Jesse Webber of CBRE. The seller was listed as North Park Apartments LLC, with a Tacoma, WA address. The transaction sales price was not disclosed.

The complex at 90 Northpoint Dr. came online in the late 1970s, and offers one and two-bedroom floor plans, ranging from 517 to 880 square feet. Monthly rents are between $719 and $999, according to the property website.

The previous owner upgraded unit interiors with new appliances, as well as lighting and hardware. On-site amenities include fax and copier services, a playground, central laundry facilities and a pool.

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