DEAL OF THE DAY: Wrightwood Provides $8.79M in Financing for Houston Apartment Acquisition
- Jun 25, 2008
By Erika Schnitzer, Associate EditorHouston–Wrightwood Capital has provided $8.79 million for the acquisition of the 448-unit Northern Oaks Apartments in Houston.Located at 15530 Ella Boulevard, the development is comprised of 17 two- and three-story buildings. One- and two-bedroom units are available and range in size from 450 to over 1,000 sq. ft. The property features two pools, laundry facilities and a picnic area, and each unit includes outside storage space and patios or balconies.The sponsor, Dallas-based Centaurus Investments, plans to make improvements to the property, as well as bring occupancy and rents to Houston market levels.