MF1 Capital Finances MultiFamily Asset At 1822 Barker Cypress Rd, Houston

The Enclave at Cypress Park and Paramount are two adjacent apartment communities in Katy, Texas, totaling 648 units. Enclave at Cypress Park comprises 384 units, and Paramount Apartments consists of 264 units. Both properties offer one-, two-, and three-bedroom units along with amenities such as pools, fitness centers, spas, and resident clubhouses. The new ownership, MC Cos., plans to combine and rebrand the properties as The Place at Barker Cypress.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: Not Provided
• Address: 1822 Barker Cypress Rd, Houston, TX
• Market: Houston

Clint Duncan and Matt Phillips of CBRE represented the undisclosed sellers in the transactions. Michael Thompson of CBRE arranged acquisition financing through MF1 Capital on behalf of MC Cos. The new ownership intends to implement a value-add program, focusing on enhancing unit interiors and amenity spaces at The Place at Barker Cypress.