PCCP, LLC announced it has acquired 13-acre parcel of land for the construction of Skymor at Pearland, a Class A, 109-unit built-for-rent gated townhome community located on Old Chocolate Bayou Road in Pearland, Texas near Houston.
A Houston-based single-family homebuilder, Integrity Community Builders, a Weekley Homes LLC company, has been commissioned by PCCP to immediately commence construction on the finished lots, with first homes anticipated to be delivered in February 2025.
Unit interiors of Skymor at Pearland will feature stainless steel appliances, quartz countertops, vinyl plank wood flooring in the common areas and on the stairs, with carpeted flooring in the bedrooms, a washer-dryer, and nine-foot ceilings. The community will include several greenspaces, two open-air gazebos, a decomposed granite trailway/paseo, a playground and a dog park.
“We believe Skymor at Pearland will be one of the top-of market built-for-rent options for residents that want to be within one of the top public-school districts throughout the region as well as have convenient access to many of Houston’s nearby major employer centers,” said Andrew Barbakoff with PCCP.
Pearland is an affluent commuter suburb of the Houston MSA and is currently the second-fastest growing city in Texas, with population growth of 240% from 2000 to 2020. Demand is largely driven by the access to Highway 288 (3.2 miles), a major north-south thoroughfare that will allow residents of Skymor to reach the city’s two major employment hubs (Downtown Houston and Texas Medical Center) within 30 minutes. The Property is also less than five miles from the Sam Houston Tollway, a ring road around Houston that provides access to the Energy Corridor, a 2,000-acre employment district that serves as a home to some of the nation’s largest energy companies.
PCCP, LLC is a real estate finance and investment management firm focused on commercial real estate debt and equity investments. PCCP has $24.2 billion in assets under management on behalf of institutional investors as of June 30, 2024. With offices in New York, San Francisco, Atlanta, and Los Angeles, PCCP has a 26-year track record of providing real estate owners and investors with a broad range of funding options to meet capital requirements. PCCP underwrites the entire capital stack to exploit inefficiencies in the market and provide investors with attractive risk-adjusted returns. Since its inception in 1998, PCCP has managed, raised or invested over $41.6 billion of capital through a series of investment vehicles including private equity funds, separate accounts and joint ventures.
