Eastern Union Arranges $17.5M Acquisition Loan for Metro Houston Apartments

by Taylor Williams

BAYTOWN, TEXAS — New York City-based Eastern Union has arranged a $17.5 million acquisition loan for The Lakes at Madera, a 392-unit apartment complex located in the eastern Houston suburb of  Baytown. Built in 1983, The Lakes at Madera comprises 22 two-story buildings on a 20-acre parcel. The unit mix consists of 242 one-bedroom units, 120 two-bedroom apartments and 30 three-bedroom residences. Yoel Goldberg, Michael Muller, Alex Jaffa and Mikael Rechdiener led the transaction for Eastern Union. Arbor Realty Trust provided the debt. The borrower was not disclosed.

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