Croatan Invests in Houston Build-to-Rent Development Project

Croatan Investments, a sponsor of Delaware statutory trust offerings and other private placements, has made a preferred equity investment in District West, a 117-unit build-to-rent project in Houston, Texas.

The community is currently under construction and is expected to be delivered by 2024.

“At Croatan, we’re excited to be a part of the growing build-to-rent segment,” said Paul Van, chief executive officer. “As homeownership continues to prove challenging for many families, build-to-rent communities provide an affordable and flexible option. With our build-to-rent platform, led by Ben Bartlett, we continue to evaluate opportunities in this space as we believe it presents excellent risk-adjusted returns.”

Located in the heart of Richmond, Texas, the community will host 117 detached homes with an average size of 1,679 square feet.

Croatan says each home will feature a two-car garage and private backyard or patio. The gated community will include resort-style amenities including a swimming pool, community center and dog parks. To execute on the investment, Croatan is partnering with a developer of condos and single-family homes in the Houston market.

Croatan Investments is a private equity real estate manager focused on multifamily investments. Founded in 2004 and headquartered in Virginia Beach, the firm has team members operating in Austin, Dallas, Atlanta, New York City, Washington D.C., and Singapore. Its portfolio currently consists of multifamily assets across the Mid-Atlantic and Sun Belt regions.

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