Single Family Built-For-Rent
Our Projects
Parkside At Heights
35 home BTR development in the Greater Heights, the trendiest submarket within the inner loop of Houston where all the young professionals and couples want to be given its proximity to uptown, downtown and the medical center as well as its restaurants, bars and outdoor spaces. This project will be the first BTR community in an area that has seen steady growth in rental rates and appreciation over the last 10 years (even showing positive growth during the last 12 months).The project will be built over 2.1 acres of land which have already been acquired. The pre-development phase is already underway with the design and engineering already completed. The team is currently working on the replat which approval is expected by 2Q24 to begin the site development. The project requires $9.5MM of equity of which$7.8MM have already been raised from FO and HWNI from Mexico and the US. Cobra Carmo is raising the last $1.7MM of equity for a project yielding +24% IRR over a five-year hold period.
Four Oaks at Nantucket
Single Family for rent development in a 14,600 sf lot in the Galleria/Uptown area of Houston. Nantucket Drive has been reconverting from large single-family homes into smaller more affordable units over the last 15 years. Cobra Carmo is building 4 units (Four 3,752 sf town homes). The units will be developed and leased over the proposed 5 year hold period.
