QOZ Fund
Forth at Navigation
Houston,
TX
Total Required Equity
$19,457,816
Asset type
Multifamily
Investment Objective
Growth
IRR
13%
Hold Period
10 Years
Investment Date
8/26/2019
Investment Summary
Forth at Navigation is a 300-unit, Class A multifamily development in the rapidly growing East End neighborhood of Houston, Texas. The site sits within an opportunity zone and is only minutes from many of Houston’s most popular restaurant and entertainment venues. The property is less than one mile from Houston’s central business district, which will make for a convenient commute to work for renters.
While the East Houston neighborhood is already burgeoning, Houston has also approved a $7 billion Highway Improvement Project that will significantly upgrade the accessibility and congestion around the property. The Improvement Project also contemplates large public event staging, recreational play fields, a children’s playground, retail and entertainment, historic displays, gardens and hike and bike trail connections. All of these additions to the surrounding area are expected to continue to transform the entire neighborhood, further benefiting Forth at Navigation.
Key Deal Points
The site sits within a Qualified Opportunity Zone, allowing investors to reap the benefits of deferring, reducing and eliminating realized capital gains.
Only minutes from popular restaurants and entertainment venues, and it's approximately one mile from Houston's Central Business District.
The city of Houston recently approved a $7 billion Highway Improvement Project that will significantly upgrade the accessibility and congestion around the property. The property will also benefit from the Improvement Project's other approved uses, such as large public event staging, recreational play fields, a children’s playground, retail and entertainment, historic displays, gardens and hike and bike trail connections
