Houston, Texas
Class C+, affordable housing, value-add
Acquired 2015 | Sold: 2019
IRR: 23.20%

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TownParc at Sherwood offers affordable housing to the Houston community within a highly rated school district. The property has convenient highway access, putting the Energy Corridor, West Chase, and Galleria employment centers within a short drive.

To add value, Lloyd Jones repositioned the property by instituting a capital improvement plan, changing the name to TownParc at Sherwood, and adding new signage.

The pool was enhanced with cabanas and an improved lounge deck. The clubhouse and units received makeovers. The asset produced an IRR of 23.20%