Greystone Secures $20.9M Loan For Acquisition Of Parkside Place In Pasadena, Texas

Parkside Place, a 321-unit income-restricted apartment complex located at 3101 Spencer Highway in Pasadena, Texas, has recently been acquired with the help of a $20.9 million Fannie Mae loan provided by Greystone. Situated on 11.24 acres of land, this multifamily property offers an array of amenities such as pools and a business center. Notably, the complex underwent renovation in 2018.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $20,900,000
• Units: 321
• Acres: 11.24
• Address: 3101 Spencer Highway, Pasadena
• Market: Pasadena, Texas
• Lender: Greystone - Michael Zampetti
• Loan Type: Acquisition Loan

Michael Zampetti from Greystone played a significant role in facilitating this transaction as the lender's representative. With their expertise, he was able to secure the necessary funding for the acquisition of Parkside Place. The addition of pools and a business center makes this income-restricted apartment complex stand out among its peers in Pasadena.