Vero Closes $86M Refi on Houston Apartments
Siguler Guff & Company announced the origination of a $27.5 million mezzanine loan as part of a broader $86 million refinancing package for Us Bayou Park, a 404-unit luxury multifamily community in Houston’s Montrose neighborhood. Benefit Street Partners originated the senior loan. The recapitalization includes a holdback facility to fund additional renovations across residential units.
Vero Capital bought the property in 2021, and it is operated under the firm’s Us Living lifestyle platform. Kairoi Residential manages the property.
Situated eight minutes from downtown Houston and near Buffalo Bayou Park, Us Bayou Park offers two resort-style pools, a fully equipped fitness facility, coworking lounges, curated resident programming, and onsite dining and retail partnerships.
Vero says it develops and repositions Class A multifamily assets into a network of branded Us Living communities providing members with a unique living experience through the convergence of amenities such as a social club, bar, cafe, workspace and daily programming.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout