Houston
Freddie Mac, NEF Launch New LIHTC Fund
The fund’s first three investments in Houston and Los Angeles total more than $60 million and come several months after Freddie Mac re-entered the LIHTC market.
DRA Advisors JV Purchases Houston Community
The firm partnered with Fogelman to acquire the 660-unit Class A multifamily asset in the Royal Oaks Country Club submarket.
504-Unit Community Changes Hands in Houston
GVA Real Estate Investments purchased Sandridge using $38.9 million in financing from Ready Capital. The property spreads across approximately 19 acres and comprises 41 buildings.
$26M Financing Earmarked for Houston Portfolio
Capital One provided the Fannie Mae loans to Solid Goods Corp. to refinance the Villas at Cypresswood and the Lakewood Apartments.
Luxury TX Community Changes Hands
Berkadia’s Senior Managing Director Ryan Epstein and Director Jennifer Ray from the company’s Houston office arranged the sale on behalf of seller Alliance Residential.
Multifamily Houston Report – Winter 2019
Despite a deceleration in rent growth following record deliveries over the past three years, investment sales for 2018 totaled more than $4.5 billion through November.
Indus Management Group Acquires Houston Asset
Vanderbilt Court, located in southwest Houston, was purchased for $11 million. The buyer secured an $8.2 million loan for the property.
Newly Completed Houston Community Gets $14M Refi
Guefen Development, which opened the 150-unit Class B asset in December 2018, used the new mortgage to retire an $11.3 million construction loan.
Hines to Develop Houston High-Rise
The developer is teaming up with two investment partners to build The Preston, a 46-story luxury community. Once completed in late 2022, it will be the tallest residential tower in downtown Houston.
Latch’s Smart Access Devices Expand Footprint
By mid-2019, UPS drivers in 10 additional cities will be able to enter multifamily communities and drop off packages in lobbies or package rooms.