Interurban Offloads 180-Unit Houston Rental Community
12ten Capital acquired Harper’s Mill, a 180-unit multifamily property in Houston. Interurban was the seller of the property, which was delivered in 1984. 12ten will begin a value-add program on the 42-year-old property.
The Berkadia Houston Investment Sales team, composed of Kyle Whitney, Chris Curry, Jeffrey Skipworth, Chris Young, Joey Rippel, Jed Dalton and Tucker Fama, represented Interurban. Brad Williamson, Mitch Sinberg, Scott Wadler, Matthew Robbins and Kyle Ryan of Berkadia Miami and Boca Raton secured the financing on behalf of 12ten Capital.
Santander provided the five-year, fixed-rate loan featuring three years of interest-only payments and a 30-year amortization schedule.
Harper’s Mill offers a mix of one- and two-bedroom floor plans, including one-bedroom townhome layouts. The well-amenitized community is zoned to Katy ISD, the #1 ranked school district in the Houston metro.
Interurban owns and asset-manages over 8,000 apartments nationwide, with an Institutional asset value exceeding $500 million.
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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