Property Type

HOUSTON — ARA has brokered the sale of the 250-unit, Class A Harbor View, a luxury multifamily community located in the Kingwood suburb of northeast Houston. The apartment community is located in the 14,000-acre King's Harbor mixed-use development, which is adjacent to Lake Houston. Harbor View is 91 percent occupied. Matthew Rotan, David Oelfke, David Wylie and David Mitchell of ARA's Houston office represented the seller, New York City-based JP Morgan, in the transaction. Atlanta-based Cortland Partners was the buyer.

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.