The BTR Innovator Investing in National Expansion
HOUSTON, Oct. 17, 2024 (GLOBE NEWSWIRE) — Christopher Todd Capital has closed escrow on its first Texas build-to-rent acquisition, part of its national expansion. The Arizona-based family office and parent company to BTR innovator Christopher Todd Communities, purchased The Cottage Green at 15770 Old Conroe Rd in Conroe, a 314-home recently completed community spanning 40-acres and featuring cottages, townhomes, unique bungalows, garden homes and lofts. HMFA Houston Property Owner I, LLC was the seller. Willow Bridge was selected as the property management company based on their expertise in BTR.
“This is an exciting acquisition for us. Texas is a priority for our growth strategy and this community in particular features a unique array of rental housing options. It is also the debut of our new brand, Cottage Living,” said Brent Long, president of Christopher Todd Capital. The Cottage Living brand reflects our interest in communities with rental product diversification coupled with lifestyle offerings for which Christopher Todd Communities is known.
The Cottage Green – soon to be rebranded Cottage Living – offers one-, two- , and three-bedroom single-story homes and two-bedroom townhomes, surrounded by nature, two scenic lakes, and a wellness walk. On site amenities include a lakeside beach club with grilling area, luxe swimming pool with tanning ledge, outdoor firepits and ramada, fully equipped fitness studio, Clubhouse and Conference room, electric car charging stations, private bark park, event lawn and more. Christopher Todd Capital will be investing a sizeable amount in community improvements to continue creating the best resident experience, synonymous with Christopher Todd Communities’ robust history in the build-to-rent sector.
With this closing, Christopher Todd Capital has retained Willow Bridge, one of the nation’s largest property management companies, as the property managers. “They impressed us with their technology, high level of focus on resident engagement, and reputation, especially their expertise in BTR,” said Todd Wood, CEO of Christopher Todd Communities. Willow Bridge has more than a half century of real estate excellence.
“Christopher Todd has been patiently watching the market for deals that make sense. In the past we have developed our own communities and collaborated with a national builder partner to help enter new markets. Our strategy through 2025 is to secure sites for our own development and building opportunities, as well as purchase completed communities that match our community lifestyle specifications and our financial criteria,” said Wood.
“We are unique in that we have substantial liquidity along with deep expertise in this space. In the long run, the BTR sector is poised for significant growth, albeit with some short-term challenges. Our long-term perspective motivates us to be proactive purchasers in today’s environment,” Long said.
For more information on this new Houston area community visit cottagelivingwoodlands.com
About Christopher Todd Capital:
Christopher Todd Capital is a privately held family office that owns Christopher Todd Communities, the nation’s most respected BTR cottage-style brand. Its roots began over 30 years ago with the startup and subsequent sale of one of the nation’s largest organic bakeries. The founder, Todd Wood, then deployed that capital to fuel the startup and growth of Christopher Todd Communities. Christopher Todd Capital is purchasing and investing in BTR and traditional multifamily assets. The company also purchases performing or nonperforming debt or equity, or places fresh capital into niche real estate assets. www.Capital.ChristopherTodd.com.
About Willow Bridge:
Founded in 1965 by Mack Pogue as Lincoln Property Company, Willow Bridge Property Company is one of the United States’ most respected full service residential property companies, operating a successful portfolio in 75 markets. Headquartered in Dallas, Texas, Willow Bridge proudly employs over 4,500 team members, has built over 200,000 apartments and manages over 200,000 units for its clients. To learn more, visit willowbridgepc.com.
Media Contact:
Martha Moyer Wagoner
MWagoner@ChristopherTodd.com
602-861-8006
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b1ae52c0-882f-4666-9fec-e8e04245f2c6
