HOUSTON — HFF has arranged the sale and financing for Summer Cove, a 376-unit apartment community in southeast Houston. HFF marketed the property on behalf of the seller, Edgewood Properties. Westmount Realty Capital purchased the asset for an undisclosed amount. In addition, HFF secured a seven-year, 3.9 percent, fixed-rate acquisition loan on behalf of the buyer through Freddie Mac’s CME program. The securitized loan will be serviced by HFF through its Freddie Mac program plus seller/servicer program. Situated on 13.8 acres, Summer Cove is located at 725 FM 1959 just off I-45. The property is 99.5 percent occupied and includes one- and two-bedroom floorplans averaging 729 square feet. Community amenities include three swimming pools, a fitness center, business center, covered parking and gated access. Todd Stewart, Todd Marix, Chris Curry and JC Clemens led the HFF investment sales team representing the seller. Tyler Ford led HFF’s debt placement team.
Summer Cove is a 376-unit apartment community in southeast Houston.
HFF Arranges Sale, Financing for 376-Unit Apartment Community in Houston
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