HOUSTON, TX—Capstone Manufactured Housing has brokered the sale of one of the premier manufactured housing communities in the State of Texas. Clarke Springs is a 170-site institutional community featuring a premium location with frontage to Sam Houston Tollway. The Community also benefits from superior curb appeal with completely remodeled double-wide homes featuring porches and attached garages, and amenities including a newly constructed clubhouse, soccer field, dog park, and picnic area. All of the homes at Clarke Springs are community-owned and the asset was 100% occupancy at closing.
Capstone’s Ian Hilpl, Kevan Enger, Brian Hummell, and Hunter LaRocca represented the seller and procured the buyer in the off-market transaction.
“Clarke Springs is the premier affordable housing option that services the South Houston market. The need for this product continues to drastically increase—especially in the Houston MSA—which is clearly demonstrated by the +40-person waiting list at the community. The ownership team had made sizeable investments prior to the disposition including complete remodels to the double-wide homes with attached garages and a newly constructed clubhouse. Our team brought an institutional buyer to the table who was aggressively growing their footprint in the Texas market and is experienced in operating assets with a sizeable number of community-owned homes,” said Hilpl, senior advisor at Capstone and lead broker on the sale.