Three Pillars Capital Group Acquires Multifamily Property In Houston For $43M

The multifamily property located at 2501 Westridge Street & 2600 Westridge Street in Houston has been involved in a recent loan transaction. The loan, dated November 23, 2020, amounted to $43,000,000. The property consists of 620 units and belongs to the landlord, Three Pillars Capital Group. Gryphon Real Estate Capital Partners provided a senior mortgage of $35 million, while Electra Capital placed an $8 million mezzanine loan.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $43,000,000
• Market: Houston
• Landlord: Three Pillars Capital Group
• Lenders: Gryphon Real Estate Capital Partners & Electra Capital
• Broker: Derek Fasulo - CBRE
• Units: 620

Derek Fasulo of CBRE represented the parties involved in this multifamily property loan transaction in Houston.