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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.
© 2025 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 Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit www.berkadia.com/licensing.
kyle whitney
Senior Director (713) 724-1456 kyle.whitney@berkadia.com
TX CRE #658451
jed dalton
Associate Director (832) 314-5078 jed.dalton@berkadia.com
TX CRE #787068
joey rippel
Managing Director (601) 919-5155 joey.rippel@berkadia.com
TX CRE #654288
chris young
Managing Director (972) 743-5742 chris.young@berkadia.com
TX CRE #630674
jeffrey skipworth
Managing Director (214) 533-3322 jeffrey.skipworth@berkadia.com
TX CRE #560404
chris curry
Senior Managing Director (713) 553-0151 chris.curry@berkadia.com
TX CRE #566750
houston, tx office
2229 San Felipe, Ste 1600
Houston, TX 77019 (713) 974-1300 | Berkadia.com
The Location
tucker fama
Senior Financial Analyst (281) 923-3856 tucker.fama@berkadia.com
TX CRE #9002106
ESTEE IBÁÑEZ
AVP, Financial Analysis (713) 469-4512 estee.ibanez@berkadia.com
TX CRE #687201
JOHNNY KING
Director
Mortgage Banking (713) 469-4502 johnny.king@berkadia.com
CUTT ABLESON
Senior Managing Director
Mortgage Banking (713) 469-4503 cutt.ableson@berkadia.com
2211 Montgomery Park Blvd | Conroe, TX 77304
CARL RASMUSSEN
Associate Director
Mortgage Banking (713) 469-4514 carl.rasmussen@berkadia.com
Price
Terms
Year Built
Total Acreage
Total Units
Total SF
Avg Unit SF
Avg Rent/Unit
Avg Rent/SF
Leased | Occupied
Market
Loan Assumption
2016
12.25 (18.61 units/acre)
228
200,700
880
$1,269
$1.44
94% | 93%
Attractive, assumable Fannie Mae loan with 3.36% Fixed Interest Rate and Full-Term I/O with 7 years remaining
West Creek is a low-density, garden-style community with surface parking in Conroe, a rapidly growing North Houston suburb known for its top-rated schools and proximity to The Woodlands. This well-maintained asset is available below replacement cost and offers light value-add opportunities, making it an appealing option for investors seeking long-term rent growth and value appreciation.
West Creek benefits from Conroe’s new 2024 ordinances, which limit multifamily development in the area to reduce stress on infrastructure and utilities. Measures include a reduction in allowable density to six units per acre and a moratorium halting all new multifamily construction near West Creek. These restrictions create significant barriers to entry, ensuring limited future competition and sustained demand for existing properties.
The Opportunity
VISIT DOC CENTER
Investment Summary
Community
The Property
apartment home
Apartment Home Amenities
Community Amenities
9-foot ceilings
Vinyl wood flooring in living areas (1st floor)
Carpeted living areas (2nd and 3rd floors)
Vinyl wood flooring in wet areas
Carpeted bedrooms
Stainless steel appliances
Granite countertops
Framed bathroom mirrors
Full-size washers and dryers
Patios or balconies with exterior storage
Investment Sales
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Fannie Mae
Berkadia
$21,882,000
10 years
10 years
3.36%
11/18/2021
12/1/2031
1/1/2022
Actual/360
Lender
Servicer
Loan Amount
Term
Interest Only Period
Interest Rate
Origination Date
Maturity Date
First Payment Date IO
Interest Calc Type
Loan Summary
Investment Highlights
Investment Highlights (Continued)
Resident clubhouse with leasing office
Resident lounge with coffee bar
24-hour business center and conference room
24-hour fitness center
Two resort-style swimming pools
Poolside grilling areas with charcoal grills
Courtyard grilling area with picnic seating
Fenced dog park
Carports and detached garages available
Gated with controlled access
Assumable Loan: Fannie Mae loan with a 3.36% fixed interest rate, full-term interest-only payments, and 7 years remaining.
Recent Construction: Built within the last 10 years and primed for modern upgrades, including updated lighting kits, cabinet repainting, and smart home packages.
Additional Revenue Potential: Valet trash service, a bulk cable/internet contract, and private yards for select first-floor units can enhance income.
Cost-Effective Operations: Lower insurance rates and favorable tax structures in Montgomery County and no MUD or HOA fees for this asset.
Population Growth: Conroe has averaged 3% population growth annually since 2010 and is projected to grow 24% over the next five years. (Greater Houston Partnership)
Rent Growth: RealPage and Costar project 1-2% rent growth in 2025 with outsized rent growth (3%+) in 2026 and 2027.
Prime Location: Convenient access to I-45, Loop 336, and Highway 105.
Retail Proximity: Situated next to a power retail intersection anchored by grocers and big-box stores.
Employment Hub: 15 minutes from The Woodlands, home to 71,000 jobs and considered the CBD of North Houston.
Top Schools: Zoned to Conroe ISD, the #1 school district in Montgomery County and #9 in the Houston metro. (Niche)