Clearwater Living Expands With Houston Acquisition

Hines and Watermark Retirement Communities developed the high-end property.

Clearwater Living has purchased The Watermark at Houston Heights, a 220-unit luxury assisted living and memory support community in Houston. The acquisition marks the company’s entry into the Texas multifamily market.

Liv Ahwatukee
Liv Ahwatukee, along with the other properties purchased by Clearwater in the portfolio transaction, were built between 2014 and 2022. Image courtesy of Yardi Matrix

A partnership between Hines and Watermark Retirement Communities developed The Watermark at Houston Heights. Following the acquisition, Clearwater Living rebranded the community as Clearwater at The Heights.

The luxury community comprises 201 independent or assisted living residences and 19 memory care apartments. Clearwater at The Heights provides access to licensed nurses on-site, as well as housekeeping services, four different restaurants, assistance with daily tasks, an emergency response system, on-site comprehensive therapy services, scheduled transportation and concierge services.

Physical therapy, occupational therapy and speech-language pathology services are also available through a collaboration with local care providers.

Completed just two years ago, the seven-story building incorporates one- and two-bedroom floorplans ranging between 204 and 1,492 square feet. Common-area amenities include a swimming pool, a fitness center, a salon with an on-site spa, a golf simulator, an art room and garage parking.

Located at 1245 W. 18th St., at the intersection of ETC Jester Blvd. and Durham Drive, the community is within the historic Houston Heights neighborhood.

Clearwater currently boasts 11 communities spread across California, Nevada and Arizona, with additional properties in various stages of development. In 2022, in a transaction brokered by Newmark, the company acquired a $255 million LivGenerations senior housing portfolio in metro Phoenix.

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