Timberwalk is located in Bear Creek- a quality mid–upper workforce area, with extensive single family residential as well as national retail on Addicks-SalsumaRoad (TX-6) / nearby Copperfield. It is conveniently located to Houston’s major employment centers, with access via Northwest Freeway, I-10 / Katy Freeway, andthe job-rich FM-1960 corridor.
Due to nearby ownership / natural portfolio fit and strong local relationships, we were offered first look at the property and secured the asset off market before it received wider attention. The Dallas-based seller has neglected management and upkeep, creating an opportunity to remedy deferred maintenance and bring rents to market rate.
Lone Star will renovate all units and increase rent. The program is well-capitalized and well-supported by its next door neighbor, Bear Creek Crossing. Once the initial value-add business plan is complete, Lone Star will pursue either a sale or a refinance depending on asset performance, market outlook, and capital markets conditions. If a refinance is chosen, a significant portion of original equity will be cashed out, and the total hold period would likely be five to seven years.
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