FINANCED
Tara Capital Secures $55.5M Loan From BridgeInvest For Park On Voss Renovations
2424 South Voss Road
MultiFamily
650,000 SF
650,000 SF
Financed 17 days ago
Summary
Loan
TEXAS
MultiFamily
650,000 sqft
The 810-unit Park on Voss property, located at 2424 South Voss Road in Houston, was purchased for $63 million from Barvin Group. The property, a multifamily asset spanning 650,000 square feet, is set to undergo renovations funded by a $55.5 million loan from Miami-based BridgeInvest. The loan will be utilized to upgrade 610 units along with enhancing appliances, HVAC systems, and exterior features to reach market rents averaging just under $1,600 per month in the Galleria/Uptown submarket.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $55,500,000
- Units: 810
- Lender: Alex Horn - BridgeInvest
- Landlord: Gopal Aggarwal - Tara Capital
Tara Capital, led by Gopal Aggarwal, secured the $55.5 million loan for the Park on Voss property's renovations. Alex Horn of BridgeInvest facilitated the loan for the multifamily asset, aligning with Tara Capital's plans to enhance the property and boost market rents in the area.
Players
All
1
Lenders
1
Details
FINANCED
IMAGE: Alex Horn & Gopal Aggarwal
DATE: 04/29/2024
ADDRESS: 2424 South Voss Road
MARKET: Houston
ASSET TYPE: Multifamily ~ SF: 650,000 ~ UNITS: 810
LENDER: Alex Horn - BridgeInvest (@BridgeInvest)
LANDLORD: Gopal Aggarwal - Tara Capital (@TaraCapitalHouston)
LOAN AMOUNT: $55,500,000
NOTE: Tara Capital has secured a $55.5 million loan from Miami-based BridgeInvest to renovate its newly acquired 810-unit Park on Voss property in Houston’s Galleria/Uptown submarket, purchased for $63 million from Barvin Group. The loan will fund renovations for 610 units and upgrades for the remaining 200, with plans to enhance appliances, HVAC systems, and exterior features to command market rents averaging just under $1,600 per month in the area.View on map
Loading...
Address2424 South Voss Road
Comparables
Reset filters to show results.