HOUSTON-Internacional Realty Inc., the San Antonio-based purchaser of the 641-unit Gables Meyer Park in Houston, received a $41.6-million loan from New York City’s MetLife Real Estate to close the $52-million acquisition from Gables Residential of Boca Raton, FL.

Hugh L. Caraway Jr., Internacional Realty’s CEO, tells GlobeSt.com that the complex at 9550 and 9701 Meyer Forest Dr., bought as a long-term investment, is a class A property that came without any deferred maintenance and a 98% occupancy. The “Gables” label, as is always the case, will be stripped from the name. Going forward, it will be called Meyer Park Apartments. For previous story, click here.

Frank Satterfield and Matt Franke, both with Kinghorn, Driver, Hough & Co. in Houston, arranged the acquisition financing through MetLife. The 10-year loan has a 30-year amortization schedule and 4.2% interest rate, says Satterfield. The capital represents 75% of the loan to value.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2025 ALM Global, LLC. All Rights Reserved.