Berkadia Brokers Sale of North Houston Class A Community
Senior Managing Director Ryan Epstein and Director Jennifer Ray acted on behalf of the seller of the 342-unit asset. The same brokerage company secured acquisition financing.
Berkadia has completed the sale of The Belvedere at Springwoods Village, a 342-unit, Class A community in Spring, Texas. Senior Managing Director Ryan Epstein and Director Jennifer Ray assisted seller Martin Fein Interests, while Senior Managing Director John Koeijmans and Associate Director Austin Blankenship arranged acquisition financing on behalf of the buyer, MLG Capital. In February, the same brokers participated in the disposition of a 268-unit garden-style community in southeast Houston.
Built in 2014, The Belvedere features one-, two- and three-bedroom units, with walk-in closets, stainless steel appliances and energy-efficient AC systems. Common-area amenities include a clubhouse, conference room, lounge area, fitness center, swimming pool and dog park.
Located at 2323 E. Mossy Oaks Road, Belvedere is a mile from Interstate 45, which provides access to downtown Houston. The surrounding area has several retail options, including The Market at Springwoods Village. The asset is also close to CityPlace Plaza, a 60-acre urban village that houses the corporate campuses of ExxonMobil and Southwestern Energy, among others.
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