Lone Star Capital Acquires 261-Unit Apartment Complex in Houston
HOUSTON — New York-based Lone Star Capital Group, led by Kent Piotrkowski and Rob Beardsley, has acquired Cranbrook Forest, a 261-unit multifamily community in northwest Houston. Built in 1983, the property offers one- and two-bedroom units, as well as a pool, fitness center and leasing office. The new ownership plans to add or upgrade the community playground, dog park, poolside picnic and barbecue area, leasing office and fitness center. Michael Muller and Marc Belsky of Eastern Union Funding arranged a $14 million acquisition loan on behalf of Lone Star Capital Group for the transaction.