July Residential Buys 536-Unit Carmel Creek Apartments in Houston

by Taylor Williams

HOUSTON — New York-based investment firm July Residential has acquired Carmel Creek Apartments, a 536-unit multifamily community in the Brookhollow neighborhood of Houston. Built in 1982, the property features one- and two-bedroom units ranging in size from 518 to 1,193 square feet and amenities such as a pool, fitness center and onsite laundry services. Mitch Sinberg, Matthew Robbins and Abigail Beauchamp of Berkadia originated an undisclosed amount of Freddie Mac acquisition financing for the deal. The loan carried a 10-year term, fixed interest rate, four years of interest-only payments and a loan-to-value ratio of 70 percent.

You may also like