Chicago-Based 29th Street Invests Preferred Equity into Texas Multifamily
29th Street Finance has completed a $4.5 million preferred equity investment at Milo on Westheimer, a 230-unit multifamily property in Houston, Texas.
This preferred equity investment is subordinate to a Freddie Mac senior loan secured by the sponsor, Brem Group. Located just minutes from the Energy Corridor and Westchase District, Milo on Westheimer offers one- and two-bedroom apartments along with amenities including a resort-style pool, fitness studio, clubhouse with coffee bar, business center, and pet-friendly spaces.
“Milo on Westheimer is well-positioned in a high-demand submarket with strong fundamentals and rent growth potential,” said Matt Compton, VP at 29th Street. “Our ability to move quickly and support the property through our in-house management team underscores the strategic value we bring as a preferred equity provider.” Headquartered in Chicago, 29th Street is a privately held investment management firm focused on multifamily real estate and proptech.
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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
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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