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Houston Developer Secures $17.2 Million for Apartment Project

HOUSTON-A Houston developer gets the go-ahead for financing on a $17.2 million project near the Buffalo Speedway. The 320-unit project is one in a series of multi-family developments in the planning or under construction for the city.

By Connie Gore | Updated on August 07, 2000

InterCapital Partners, a Houston real estate firm, is receiving $17.2 million in construction and permanent financing to build a 320-unit apartment complex along Buffalo Speedway near Loop 610.

The financing, arranged by WMF Robert C. Wilson Co., has been secured through Prudential Huntoon Paige. InterCapital plans to build the Park Lane Apartments on a 12-acre site purchased from Lakes Acquisition Ltd. The land sale was handled by CB Richard Ellis, which represented the buyer, and Colliers International, which represented the seller.

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