HOUSTON — Berkeley Point Capital has closed a $58.8 million credit facility addition on an existing $80 million credit facility funded in August 2011. The nine-year advance recently funded the acquisition of the 309-unit Metro at Greenway, a Class A apartment community located adjacent to Greenway Plaza in Houston. The apartment community features a pool plaza, infinity spa, poolside terrace, courtyard, orange grove, summer kitchen, 24-hour fitness center, locker room, saunas, tanning bed, demonstration kitchen, resident lounge, coffee bar and parking garage with remote control access. The advance also funded the acquisition of the 114-unit Zoso Flats in Arlington, Va. Mitch Clarfield of Berkeley Point arranged the credit facility addition on behalf of the sponsor, Simpson Housing Fund I, a joint venture between Denver-based Simpson Housing LLLP and an East Coast-based pension fund.
BERKELEY POINT SECURES $58.8M CREDIT FACILITY ADDITION
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