Our History
CWS Capital Partners and its investors have been investing in real estate across the nation since 1969. To this day, CWS continues to specialize in the acquisition, development, management, and disposition of luxury apartment communities.
CWS began in 1969 as a small investment firm founded by Jim Clayton and Bill Williams. They combined their own capital to purchase an apartment complex in Southern California. In the early 1970s, Jim and Bill saw an investment opportunity in under-valued manufactured housing communities, the investment vehicle that the company would emphasize for the next 20 years. In 1977, Steve Sherwood teamed with Jim and Bill to form Clayton, Williams and Sherwood, Inc. and began acquiring manufactured housing communities much more aggressively. By the 1980s, Clayton, Williams and Sherwood, Inc. established itself as one of the largest owner/operators of manufactured housing communities in the United States. In the late 1980s, CWS began selling its manufactured housing units to focus more on acquiring apartment communities. When opportunities shifted toward new construction, CWS began developing luxury apartment communities.
In the late 1990s, CWS sold its manufactured housing communities portfolio and exchanged that capital into well-located apartments in growing markets that had long-term attributes that were attractive to knowledge-based workers, such as business-friendly governments, good climates, and critical infrastructure like large universities, major airports, and cultural amenities. These markets included cities in the "sun belt" states of North Carolina and Texas, which continue to be a significant portion of CWS’s apartment portfolio. Since the "Great Exchange," CWS has exclusively focused on high-quality luxury apartment communities. In 2003, CWS began a long and fruitful relationship with GE Capital, which lasted until 2013. During this period, CWS’s apartment portfolio grew from 8,100 units to 19,700 units. CWS continued to expand its apartment portfolio over the succeeding decade. To this day, CWS continues to specialize in the acquisition, development, management, and disposition of luxury apartment communities in 13 high growth markets across the country with a portfolio in excess of 29,000 units and $7 billion in market value.
50+ Year Timeline
- 1969
Jim Clayton and Bill Williams combine their own capital along with friends and family to start Clayton and Williams. They purchased their first investment property.
- 1971
The first manufactured housing community is purchased.
- 1977
Steve Sherwood joins Clayton and Williams to form Clayton, Williams, and Sherwood, Inc. CWS implements a strong acquisition campaign for highly undervalued manufactured housing, which offers a good risk-reward relationship.
- 1980's
CWS establishes itself as the largest owner and operator of manufactured housing in the U.S.
- 1986
First CWS-built manufactured housing community is named Creekside, located in Lewisville, Texas.
- 1987
CWS makes its first international investment into five mobile home parks in Canada. Gary Carmell joins CWS.
- Late 1980’s
Manufactured housing demand begins to peak while apartment sector values plummet.
- 1989
CWS shifts its focus to undervalued apartment assets and purchases its first apartment community named Papillon Parc, located in Fort Worth, Texas.
- Early 1990’s
A large number of loan restructurings take place within the CWS portfolio resulting in a significant reduction in debt.
- 1996
First CWS apartment development projects: The Marquis at Deerfield, located in San Antonio, Texas and The Marquis at Ladera Vista, located in Austin, Texas.
- 1997
CWS completes its transition from manufactured housing to apartment communities after the merger of its manufactured housing management company into a private real estate investment trust (REIT) called CWS Communities Trust.
- 1998
CWS Capital Partners LLC and CWS Apartment Homes LLC are created after the sale of the manufactured housing management company. Mike Engels joins CWS.
- 1998-2000
"The Great Exchange": CWS begins the exchange of over $93 million in equity and over the next three years provides reinvestment opportunities into the apartment sector enabling investors to defer paying taxes on $136 million of gain.
- 2003
Relationship is forged with GE Capital to acquire multifamily properties across the nation.
- 2006
CWS portfolio grows to over $1 billion in assets and over 13,000 multifamily units under management.
- 2009
CWS celebrates its 40th anniversary closing the year with a portfolio of 56 properties with 15,223 units.
- 2010
CWS establishes its first apartment investment fund named CWS Strategic Apartment Fund (SAF).
- 2015
Within a 30-day period, CWS refinances 18 properties with over $350 million in debt, while returning $58 million to investors. CWS structures these loans with variable-rate financing.
- 2018
Within a 30-day period, CWS refinances 12 properties with over $267 million in debt, while returning over $30 million to investors. CWS structures these loans with variable-rate financing. BRIDGE corporate volunteer program surpasses $1 million in total donated funds to charitable organizations since inception of the program.
- 2019
CWS celebrates its 50th anniversary as owner and operator of 101 properties, with 29,078 units valued at over $4.5 billion.
- 2020
Covid-19 pandemic shuts down the global economy but soon begins a massive growth in rents for apartments as a result of remote work and a lack of housing supply.
- 2022
CWS owns and operates a total of 101 apartment communities and 28,594 units in 8 states. CWS launches its 14th real estate fund, SAF XIV.
50+ Year Timeline
- 1969
Jim Clayton and Bill Williams combine their own capital along with friends and family to start Clayton and Williams. They purchased their first investment property.
- 1971
The first manufactured housing community is purchased.
- 1977
Steve Sherwood joins Clayton and Williams to form Clayton, Williams, and Sherwood, Inc. CWS implements a strong acquisition campaign for highly undervalued manufactured housing, which offers a good risk-reward relationship.
- 1980's
CWS establishes itself as the largest owner and operator of manufactured housing in the U.S.
- 1986
First CWS-built manufactured housing community is named Creekside, located in Lewisville, Texas.
- 1987
CWS makes its first international investment into five mobile home parks in Canada. Gary Carmell joins CWS.
- Late 1980’s
Manufactured housing demand begins to peak while apartment sector values plummet.
- 1989
CWS shifts its focus to undervalued apartment assets and purchases its first apartment community named Papillon Parc, located in Fort Worth, Texas.
- Early 1990’s
A large number of loan restructurings take place within the CWS portfolio resulting in a significant reduction in debt.
- 1996
First CWS apartment development projects: The Marquis at Deerfield, located in San Antonio, Texas and The Marquis at Ladera Vista, located in Austin, Texas.
- 1997
CWS completes its transition from manufactured housing to apartment communities after the merger of its manufactured housing management company into a private real estate investment trust (REIT) called CWS Communities Trust.
- 1998
CWS Capital Partners LLC and CWS Apartment Homes LLC are created after the sale of the manufactured housing management company. Mike Engels joins CWS.
- 1998-2000
"The Great Exchange": CWS begins the exchange of over $93 million in equity and over the next three years provides reinvestment opportunities into the apartment sector enabling investors to defer paying taxes on $136 million of gain.
- 2003
Relationship is forged with GE Capital to acquire multifamily properties across the nation.
- 2006
CWS portfolio grows to over $1 billion in assets and over 13,000 multifamily units under management.
- 2009
CWS celebrates its 40th anniversary closing the year with a portfolio of 56 properties with 15,223 units.
- 2010
CWS establishes its first apartment investment fund named CWS Strategic Apartment Fund (SAF).
- 2015
Within a 30-day period, CWS refinances 18 properties with over $350 million in debt, while returning $58 million to investors. CWS structures these loans with variable-rate financing.
- 2018
Within a 30-day period, CWS refinances 12 properties with over $267 million in debt, while returning over $30 million to investors. CWS structures these loans with variable-rate financing. BRIDGE corporate volunteer program surpasses $1 million in total donated funds to charitable organizations since inception of the program.
- 2019
CWS celebrates its 50th anniversary as owner and operator of 101 properties, with 29,078 units valued at over $4.5 billion.
- 2020
Covid-19 pandemic shuts down the global economy but soon begins a massive growth in rents for apartments as a result of remote work and a lack of housing supply.
- 2022
CWS owns and operates a total of 101 apartment communities and 28,594 units in 8 states. CWS launches its 14th real estate fund, SAF XIV.
➤ Disclosure :
The property pictures featured throughout this website have already been capitalized by CWS investors and are not available for investment. Past performance is no guarantee of future results.
This website is provided to you by CWS Capital Partners. CWS Capital Partners provides investment advice to its proprietary funds. Through its affiliate CWS Apartment Homes it offers real estate related advice. Investment opportunities may be in the form of a single property offering or a pooled investment vehicle and are through an affiliated entity, CWS Investments. CWS Investments is a registered broker dealer, member FINRA SIPC. The information on this website is not intended to be investment advice or an offer; offers can only be made with the private placement memorandum and offering documents.
Private placement real estate securities offerings are speculative and involve substantial risks. Risks may include, but are not limited to, illiquidity, lack of diversification, loss of capital, default risk, environmental, development, and capital call risk. Investments may not achieve their objectives as outlined in their business plans.
For more information about CWS Capital Partners see its Form ADV. For information about CWS Investments see its Form CRS and FINRA Broker Check .