Lionel Partners Sells 200-Unit Houston Asset
Trinnium financed the purchase with a $15 million loan from NexBank.
Trinnium Equity Group has acquired Cypress Parc, a 200-unit multifamily community in Houston, financing the purchase with a $15 million loan from NexBank, according to Yardi Matrix data. Berkadia represented the seller, Lionel Partners, and secured the acquisition debt for the buyer.
Built in 1979, the 36-building, garden-style community incorporates two- and three-bedroom floorplans, ranging from 926 to 1,420 square feet. Apartment interiors feature washers and dryers, walk-in closets, vinyl plank flooring, fireplaces, ceiling fans and stainless-steel appliances. Common-area amenities encompass a swimming pool, fitness center, grill and picnic area, volleyball court and playground, as well as 950 parking spaces.
The roughly 18-acre property is at 18001 Cypress Trace Road, near Interstate 45 and 22 miles from downtown Houston. The community is within walking distance of the Cypress Station shopping mall and the retail corridor along Cypress Creek Parkway. George Bush Intercontinental Airport is 11 miles away.
Berkadia Senior Managing Director Cutt Ableson arranged the financing on behalf of Trinnium. Managing Directors Chris Young, Joey Rippel and Jeffrey Skipworth and Director Kyle Whitney, along with Senior Managing Directors Chris Curry and Todd Marix, represented Lionel Partners. The same team was recently involved in the sale of a 318-unit luxury community in Houston.