Cortland Copperleaf is an institutionally owned and operated multifamily asset with healthy cash on cash returns. The early 2000s vintage, low-density community is available below replacement cost and positioned in a strong performing submarket with a low threat of new supply. It is enviably located in Northwest Houston, one of Houston’s fastest growing and most popular housing markets. As a best-in-class, turnkey community, it offers high historical occupancy and increasing rent trends and is supported by excellent lifestyle amenities, demographics, and demand drivers.
the property
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201 Wilcrest Dr, Houston, TX 77042
Latitude 2976
734
TOTAL UNITS
1975/1976
YEAR BUILT
1,063
AVG UNIT SF
The Opportunity
The Location
The Property
Contact
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Privacy
Terms of Use
The Location
address
Price
Terms
Year Built | renovated
Total Acreage
Total Units
Total SF
Avg Unit SF
Avg Rent/Unit
Avg Rent/SF
Occupied
Market
All Cash
2003 | 2019
13.00
240
236,966
987
$1,522
$1.54
94%
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Market Support for Higher Rents
Achieved 5.5% higher rents on new leases and 8.3% on renewals in June
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Revenue Growth Potential
for New Ownership
Averaged 94% occupancy for the last 18 months
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Averaged 94% occupancy for the last 18 months
$6.3 million capital infusion from Cortland, a best-in-class, institutional owner-operator, that fully modernized and repositioned the community
Little to no deferred maintenance remaining
for new ownership
Unit mix has great appeal to suburban renters with 57.5% 2B and 3B units plus two-story townhomes available
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investment highlights
THE OPPORTUNITY
investment summary
14811 West Rd Houston, TX 77095
Updated Unit Interiors Available in Select Units
Towhomes Available
Open Concept Floor Plans
8-Foot and Vaulted Ceilings
Ceiling Fans
Black or Stainless Steel Appliances
Washer/Dryer Connections in Select Units
Washer/Dryers Included in Select Units
Private Patios or Balconies
Private Yards in Select Units
apartment home amenities
Modernized Leasing Office/Clubhouse
Business Center
Fully-Equipped Fitness Center
Resort-Style Swimming Pool
Trellised Outdoor Kitchen with Gas Grills
Picnic Pavilion with BBQ Grills
Children’s Playgound
Package Lockers
Clothing Care Centers
Beautifully Landscaped
community amenities
resort style pool
community amenities
Updated Unit Interiors Available in Select Units
Towhomes Available
Open Concept Floor Plans
8-Foot and Vaulted Ceilings
Ceiling Fans
Black or Stainless Steel Appliances
Washer/Dryer Connections in Select Units
Washer/Dryers Included in Select Units
Private Patios or Balconies
Private Yards in Select Units
apartment home amenities
community amenities
Community amenities
fitness center
Modern resident clubhouse with Wi-Fi
Resident lounge area with bar style kitchen and billiards table
Coffee bar
State of the art fitness center
with 2 Peloton bikes
Resort style pool with waterfall feature and splash pad
Poolside sundeck with ample seating
Trellised picnic area with 2 gas grills
Off-leash bark park
Package locker room
Private garages available
Covered parking available
Storage units available
Valet trash service
Gated, limited-access community
Community clubhouse
One, two, and three bedroom units available
Two-story townhomes available
9’ ceilings with crown molding
Entry closets*
2-inch faux wood blinds
Bay windows*
Ceiling fans in living areas and bedrooms
Wood-style flooring in entries, living areas, and wet areas*
Carpeted living areas*
Built-in bookshelves*
Built-in desks
Digital programmable thermostats
Den/study*
Custom-designed gourmet kitchens
Kitchen islands*
Breakfast bar
Kitchen pantries
Energy-efficient stainless steel appliances
Side-by-side refrigerators*
Granite countertops
Designer hardware and tile backsplashes
Soft-close shaker-style cabinets
and drawers with bronze pulls
Under-cabinet lighting
USB integrated outlets
Gooseneck faucet with undermount
dual-basin kitchen sinks
Updated plumbing fixtures
and lighting packages
Carpeted bedrooms
Generous walk-in closets
Framed bathroom mirrors
Double sink vanities*
Deep soaking bathtubs with curved shower rods
Full-size washer and dryer sets
Private patios or balconies
with exterior storage
apartment home amenities
In select units*
Tucker Knight
Senior Managing Director
Mortgage Banking
+1 (713) 469-4515
tucker.knight@berkadia.com
Michael Case
Financial Analyst
+1 (281) 224-7013
michael.case@berkadia.com
CARL RASMUSSEN
Associate Director
Mortgage Banking
+1 (713) 469-4514
carl.rasmussen@berkadia.com
TUCKER FAMA
Financial Analyst
+1 (281) 923-3856
tucker.fama@berkadia.com
TODD MARIX
Senior Managing Director
+1 (713) 826-5979
todd.marix@berkadia.com
JEFFREY SKIPWORTH
Managing Director
+1 (214) 533-3322
jeffrey.skipworth@berkadia.com
KYLE WHITNEY
Director
+1 (713) 724-1456
kyle.whitney@berkadia.com
JOEY RIPPEL
Managing Director
+1 (601) 919-5155
joey.rippel@berkadia.com
CHRIS young
Managing Director
+1 (972) 743-5742
chris.young@berkadia.com
CHRIS CURRY
Senior Managing Director
+1 (713) 553-0151
chris.curry@berkadia.com
2229 San Felipe
Suite 1600
Houston, TX 77019
+1 (713) 974-1300
Berkadia.com
houston OFFICE
Investment Sales and Mortgage Banking
contact us
Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada.
© 2023 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by the Tax Credit Syndication group. For state licensing details for the above entities, visit www.berkadia.com/licensing.
Key Demand Drivers
for Value Appreciation
$1B+ in new health care campus development underway in the area
Achieved 5.5% higher rents on new leases and 8.3% on renewals in June
Average effective rents
are $220 below rent comparables
Top 15 submarket in Houston for 2023 projected rent growth (3.3%, Axiometrics)
Only two new communities underway within three miles
$1B+ in new health care campus development underway in the area
122K jobs within five-mile radius, including a healthy industrial hub with historically low vacancy and a recession-resistant regional health care hub
$101K average household income within five miles
Zoned to Cy-Fair ISD, #1 school district for athletes in Houston metro and #6 overall (Niche)
Houston, TX Office
2229 San Felipe, Suite 1600
Houston, TX 77019
+1 (713) 974-1300 | Berkadia.com
Modernized Leasing Office/Clubhouse
Business Center
Fully-Equipped Fitness Center
Resort-Style Swimming Pool
Trellised Outdoor Kitchen with Gas Grills
Picnic Pavilion with BBQ Grills
Children’s Playgound
Package Lockers
Clothing Care Centers
Beautifully Landscaped
community amenities
apartment home features
One, two, and three bedroom units available
Two-story townhomes available
9’ ceilings with crown molding
Entry closets*
2-inch faux wood blinds
Bay windows*
Ceiling fans in living areas and bedrooms
Wood-style flooring in entries, living areas, and wet areas*
Carpeted living areas*
Built-in bookshelves*
Built-in desks
Digital programmable thermostats
Den/study*
Custom-designed gourmet kitchens
Kitchen islands*
Breakfast bar
Kitchen pantries
Energy-efficient stainless steel appliances
Side-by-side refrigerators*
Granite countertops
Designer hardware and tile backsplashes
Soft-close shaker-style cabinets
and drawers with bronze pulls
Under-cabinet lighting
USB integrated outlets
Gooseneck faucet with undermount
dual-basin kitchen sinks
Updated plumbing fixtures
and lighting packages
Carpeted bedrooms
Generous walk-in closets
Framed bathroom mirrors
Double sink vanities*
Deep soaking bathtubs with curved shower rods
Full-size washer and dryer sets
Private patios or balconies
with exterior storage