Skylar Pointe Presents Prime Value-Add Opportunity Amid Trailing Rents

A partnership consisting of Better World Holdings and Crown Capital Ventures recently acquired Skylar Pointe Apartments, a 449-unit rental development situated at 110 El Camino Village Dr. in the Clear Lake neighborhood of Houston for $49.1 million. The property is near the NASA Johnson Space Center, Lockheed Martin, the Boeing Company, HCA Houston Healthcare Clear Lake and Memorial Hermann Southeast Hospital.

Constructed in 1979, Skylar Pointe Apartments comprise 162 one-bedroom apartments, 255 two-bedroom apartments and 32 three-bedroom apartments. The overall development is 423,240 square feet.

“Located in one of Houston’s most desirable neighborhoods, Skylar Pointe Apartments presents a prime value-add opportunity with rents presently trailing the submarket,” said Reuven Bisk, president and managing member of Better World Holdings. “The partnership is poised to launch a wide spectrum of improvements that will lead to increased rents and will maximize the property’s value.”