Berkadia Arranges Sale of 268-Unit Magnolia Grove Apartments in Houston
HOUSTON — Berkadia has arranged the sale of Magnolia Grove, a 268-unit apartment community in Houston’s Southbelt/Ellington neighborhood. Built in 1984, the property features one- and two-bedroom units and amenities such as a pool, fitness center, resident clubhouse and outdoor grilling area. Ryan Epstein, Jennifer Ray and Scott Bray of Berkadia represented the seller, Dallas-based Lantower Residential, in the transaction. John Koeijmans and Austin Blankenship of Berkadia arranged a 10-year, floating-rate acquisition loan through Freddie Mac on behalf of the Dallas-based buyer.