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Berkadia Arranges Sale of 276-Unit Multifamily Asset in Houston

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Hunington Properties has sold Vargos on the Lake, a 276-unit community in Houston, to Berkshire Residential Investments for an undisclosed price.

HOUSTON — Berkadia has arranged the sale of Vargos on the Lake, a 276-unit multifamily asset in Houston. Built in 2015, the property offers one-, two- and three-bedroom units that feature stainless steel appliances, quartz countertops and individual washers and dryers. Communal amenities include a coffee bar, fitness studio, conference room and a dog park. Ryan Epstein and Jennifer Ray of Berkadia represented the seller and developer, Hunington Properties Inc., in the transaction. Cutt Ableson of Berkadia secured acquisition financing through an undisclosed lender on behalf of the buyer, Boston-based Berkshire Residential Investments.

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