Bellrock Real Estate Partners Acquires Houston Multifamily
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.
Completed in late-2019, the five-story property features a swimming pool, a rooftop terrace, a 24-hour fitness center, a resident lounge, game room, theatre room, grilling stations, pet run, pet washing station and a secured parking garage with EV charging stations.