Berkadia announces it has arranged debt financing and secured an equity partner for the acquisition of The Henry at Liberty Hills (formerly known as SYNC at Liberty Hills), a 228-unit luxury garden style community in Houston. Cutt Ableson and Colin Marusak of Berkadia’s Houston office arranged both debt and equity financing on behalf of the sponsor, Momentum Multifamily, a Dallas-based investment group that owns more than 11 properties encompassing over 1,600 units.
Berkadia originated a Freddie Mac 10-year, floating rate loan along with a preferred equity investment to facilitate the purchase of the asset.
“The property’s immediate access to Highway 90 and exceptional build quality provided the buyer with a competitive asset which offers tenants efficient drive times to the greater Houston area,” said Ableson. “With nearby employers and new corporate developments in the pipeline, The Henry at Liberty Hills is positioned to benefit from improving fundamentals throughout the submarket.”
Built in 2012, The Henry at Liberty Hills is located at 15330 Liberty River Drive. One-, two- and three-bedroom units include hardwood plank flooring, sleek black appliances, a built-in workspace, entertainment bar and private patio/balcony. Community amenities feature a business center, conference room, game/media room, swimming pool, fitness center and a bark park.
Situated in East Houston, the community is located near multiple transit routes and employers. Crosby Freeway and Sam Houston Parkway are less than five minutes away, offering direct access into Downtown Houston and the metro area. Various employers including TechnipFMC, Stolt-Nielsen and IKEA are approximately 10 minutes away in nearby Generation Park, which also features numerous retail and dining options.