Fairstead Acquires 250-Unit Multifamily Complex With $26M Acquisition Loan In Houston

The Yale Village Apartments is a multifamily property located at 5673 Yale Street in Houston. Fairstead, led by Jeffrey Goldberg & Allan Izzo, acquired the 250-unit complex with an acquisition loan totaling $26 million provided by Neala Martin from CREA, Lument, and Woodforest National Bank.

Summary of transaction details:

• Property Type: Multifamily ~ UNITS: 250
• Transaction Amount: $26,000,000
• Lender: Neala Martin - CREA ; Lument ; Woodforest National Bank
• Landlord: Jeffrey Goldberg & Allan Izzo - Fairstead

As part of the project, Fairstead is collaborating with Rainbow Housing Texas and Houston Housing Finance Corporation to embark on a $20 million renovation endeavor. The primary focus of the renovation is to enhance affordability and improve the community living aspects of the property, aligning with Fairstead's mission as a national affordable housing developer.