Clear Capital, LLC Acquires 200 –Unit Apartment Community in Victorville , CA
Received 12% Covid-19 Discount on Latest Acquisition in Inland Empire
Irvine, CA – March 30th, 2021 – Irvine-based private equity real estate investment firm, Clear Capital, LLC, acquired The Colony at Victorville, a 200-unit apartment community in Victorville, CA, for $24.5 million. This acquisition marks its third deal closed within a 120-day period. The previous two deals that Clear Capital acquired include a 244-unit apartment community in Carrollton, TX and a 96-unit apartment community in Lakewood, CO.
Constructed in 1988, Colony at Victorville is situated on 8.7 acres at 14450 El Evado Rd, Victorville, CA. The community offers a favorable unit mix of larger 2- and 3-bedroom apartment homes along with amenities such as a swimming pool, fitness center, basketball court and playground.
“The Colony at Victorville’s location in the Inland Empire of Southern California is advantageous due to the rapid and persistent growth of E-Commerce and its affordability relative to other parts of California,” says Eric Sussman, Partner at Clear Capital. “It’s solid rental price point caters to an under-served renter demographic in a neighborhood surrounded by more expensive newer construction communities and less-expensive but inaccessible affordable housing communities with 12-18 month long wait lists,” says Sussman.
The Colony at Victorville was purchased through a loan assumption with 6 years remaining at an 4.78% floating interest rate. “By assuming the existing loan, Clear Capital will inherit a higher going in yield and acquire the asset at a discount to Pre-COVID19 pricing of more than 12%,” says Enrique Huerta, Clear Capital’s Vice President of Acquisitions.
The acquisition of Colony at Victorville marks Clear Capital’s 20th multifamily investment and its eleventh in California. Clear Capital currently owns over 4,000 units and plans to continue to build its portfolio across the United States.
Irvine, Ca – July 19, 2018 – Clear Capital, LLC, a real-estate investment firm with over twenty years of creating significant value for investors, announced today the launch of its new corporate website at clearcapllc.com. The completely revamped website features a new modern design, improved functionality, and enriched content offering users a more interactive experience across desktop and mobile devices.
Clear Capital’s new corporate site has been designed to provide the ultimate investor-friendly experience. Investors will benefit from the richer content, including an expanded showcase of the company’s growing real estate portfolio and informative thought leadership and social media posts on the multi-family real estate market. The investor log-in portion of the site has also been redesigned to offer a more intuitive user experience.
“We are thrilled to unveil our new corporate website,” said Eric Sussman, Founding Partner of Clear Capital, LLC. “At Clear Capital, we follow an ‘investor-first’ approach. The redesign of our corporate website is just one example of our many efforts to make the investment experience as seamless as possible. We look forward to continuing to partner with investors to deliver strong, long-term returns.”
A private real estate investment firm, Clear Capital, LLC creates significant value through direct investments in multi-family real estate assets. Today, the company and its affiliates control over $500 million of assets in the Sunbelt Region of the U.S, including Los Angeles and the Inland Empire in Southern California and most recently Dallas and Fort Worth in Texas. Clear Capital has a proven track record of generating superior investor returns, having never lost any investment capital to-date.
Clear Capital, LLC is a private real estate investment firm with a 20+ year track record of creating significant value for investors. Since its inception in 1996, Clear Capital’s Principals, which combined have over 100 years of real estate investment experience, have applied a distinctive approach to investing across the Sunbelt markets. Specific markets include Los Angeles neighborhoods (Koreatown, Echo Park, Hollywood and Silver Lake), the Inland Empire (Azusa, Covina, Ontario, Temecula, Pomona, and Victorville), and more recently Texas (Dallas/Fort Worth). Clear Capital and its affiliates control over $500 million in multi-family real estate investments that have consistently produced strong average returns in the mid-to-upper teens. For more information or to make an investment, please visit clearcapllc.com. You can also follow us on Twitter, LinkedIn, Facebook, or Instagram for the latest company developments.