Verde Communities Secures $78 Million Refinance From Citigroup For 8700 Broadway Street Multifamily Asset

The property asset involved in this transaction is a multifamily development located at 8700 Broadway Street in Houston. The asset comprises 2,243 units and encompasses a total square footage of 1,655,471. The loan amount secured for this property is $78,000,000 through a refinance, with Citigroup acting as the lender.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $78,000,000
• Address: 8700 Broadway Street
• Market: Houston
• Units: 2,243
• Square Footage: 1,655,471
• Lender: Citigroup
• Landlord: Verde Communities
• Brokers: Firas Turkmani & Jordan Brustein - Ackman-Ziff
• Loan Type: Refinance

The deal involved the representation of Verde Communities by brokers Firas Turkmani and Jordan Brustein from Ackman-Ziff, who facilitated the refinance transaction with the lender Citigroup.