STAFFORD, TX—As occupancy rates are anticipated to increase in 2018, operators will look to accelerate rent growth, making multifamily assets in high-barrier markets compelling options for investors. A recent example was the sale of Estates at Fountain Lake, a 306-unit multifamily asset.
Berkadia represented the seller, Prime Property Investors LTD, a real estate investment firm based in Northbrook, IL, and arranged the financing on behalf of the buyer, GPI Investments LLC, a multifamily investment company based in Missouri City, TX. Fannie Mae originated the fixed-rate loan with multiple years of interest-only payments.
Berkadia's Houston office conducted the transaction. The professionals involved include senior managing directors Ryan Epstein and Cutt Ableson, director Jennifer Ray and associate Scott Bray.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
