Christopher Todd Capital has closed escrow on its first Texas build-to-rent acquisition of The Cottage Green, 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 Road 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 will 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.
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.
