Encore On The Bay
Encore on the Bay is a 296-unit, class B- multifamily property in Seabrook, TX. With quality construction thanks to a 2010 rebuild, Encore’s 600 feet of frontage on Clear Lake offers residents a combination of resort-like waterfront living and suburban convenience.
- Deal Story: The property has significant room for improvement in curb appeal and upside in rents: half a mile down the road, Dwell at Clear Lake is achieving $200+ higher rents with similar 1970 product.
- Location: Encore occupies a prominent bayfront location on NASA parkway only 4 minutes
from the Johnson Space Center and 8 minutes from the HCA Houston Medical complex in Webster.
- Business Plan: Lone Star will execute comprehensive value-add with unit upgrades, smart home tech package, landscaping improvements, enhanced amenities, expanded / upgraded boardwalk, and improved management. Once the initial value-add business plan is complete (24 months), Lone Star will pursue either a sale or a refinance depending on asset performance, market outlook, and capital markets conditions (3–7 years projected overall hold period).