Three Pillars Receives $46M Loan for Refinancing of Two Houston Apartment Communities

HOUSTON — Locally based investment firm Three Pillars Capital Group has received a $46 million loan for the cash-out refinancing of Mainridge Point and Westridge Gardens, two apartment communities totaling 520 units in Houston. Three Pillars purchased the properties, which offer one- and two-bedroom units, in October 2020 then implemented a series of capital improvements. Upgrades included new countertops, cabinetry, flooring and kitchen and bath fixtures. An undisclosed, California-based bank provided the loan.