JV Buys Still-to-be-Built Houston Manufactured Housing Community
CenterSquare Investment Management and K8H Ventures have acquired Piney Woods, a to-be-built 394-lot manufactured housing community in the Crosby submarket of Houston. The acquisition represents CenterSquare’s first private equity investment in the sector and was made via a joint venture with K8H Ventures, a manufactured housing operator with a track record in the Houston market.
The Property’s central location puts it near the Port of Houston, which is experiencing significant growth and generating blue-collar jobs, as well as the Lake Houston community. Piney Woods is a popular option for cost-conscious renters. Texas leads the United States for annual manufactured housing shipments by state.
Piney Woods will offer an array of premium amenities, including a swimming pool, basketball court, playground, walking trails and green spaces.
The land is shovel ready, and lots will be developed over a 12-month period with completion scheduled for August 2024.
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