DPG Structures $9.8M Equity Capital for The Falls at Clear Lake
- Nov 12, 2015
DPG Investments LLC and affiliates recently announced another successful capital structuring and closing. For the acquisition and renovation of The Falls at Clear Lake, DPG structured $9.8 million in limited partner capital, equating to approximately 95% of the required equity.
The Falls at Clear Lake is a 400-unit apartment complex located in the Houston submarket Clear Lake on a 24 acres property. The Falls is close to the Webster medical corridor and major employment centers including the Port of Houston and NASA. The community offers a range of amenities such as a playground area, activity center, tropical-style pools and covered parking. Prices for apartments in the complex start at $678 per month for a 539-square-foot apartment and reach $1,113 per month for a 1115-square-foot apartment.
“Since 2011, DPG has structured and financed in excess of $250 million in aggregate closings in Texas. The Falls at Clear Lake acquisition demonstrates DPG’s continuing commitment to structuring private equity and debt capital for real estate transactions in Texas and other markets throughout the country and is a perfect example of our faith in the robust Texas economy,” said Dan Galvanoni, DPG chairman, in a prepared statement. “We continue to provide flexible, entrepreneurial capital in extremely complicated and time-sensitive closings.”
Image courtesy of DPG Investments LLC