Newmark Announces Two Texas Apartment Deals
Newmark completed the sale and financing of two sizable Texas multifamily properties.
First off, was the Jefferson Cedar Ridge; a 360-unit luxury multifamily community located in Southwest Dallas. Newmark’ Richard Furr, Brian Murphy, and Brian O’Boyle, Jr. represented seller TDI in the transaction. A Newmark Finance team, led by Braden Harmon, Hank Glasgow, and Jeff Fein, arranged acquisition financing on behalf of buyers Ashcroft Capital and Pearlmark Real Estate.
In Houston, Newmark completed the sale and financing of Lakeside, a 296-unit multifamily community located at 9550 Meyer Forest Drive (pictured). Newmark’s David Mitchell represented the seller, Knightvest Capital, in the sale transaction. Colin Cross secured the financing on behalf of the buyer, Pegasus Real Estate.
Built in 2001, Lakeside is a mid-rise community featuring a mix of one-, two- and three-bedroom units averaging nearly 1,000 square feet. The property was 92% occupied at the time of sale.
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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