HOUSTON, TX – Bellrock Real Estate Partners has secured a $64.7 million mortgage loan to acquire a 375-unit residential community in Houston, TX.
A fund sponsored by CBRE Global Investors closed on the loan to facilitate the acquisition. Newmark's Hank Glasgow and Braden Harmon arranged the loan on behalf of Bellrock Real Estate Partners. The floating rate loan has a three-year initial term, which can be extended up to an additional two years.
The acquired property, Bellrock Summer Street, formerly known as Broadstone Summer Street, is located at 3030 Summer St., directly south of Interstate 10.
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Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
