Rockstar Capital Acquires Multifamily Property In Houston, TX For $51M Loan

Rockstar Capital has acquired a Class A multifamily property located at 8900 Lakes at 610 Dr. in Houston, TX. The transaction, which took place on 03/16/2022, involved a total of 282 units. Meridian Capital Group represented Rockstar Capital in the deal, with brokers Hannah Howard, Jonathan Zilber, and Robert Martinez facilitating the acquisition.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $51,000,000
• Loan Type: Acquisition
• Loan Terms: 3 YR Term, Full term IO, 75% LTC

The loan amount for the acquisition was $51,000,000. The terms of the loan included a 3-year term, full-term interest-only payments, and a loan-to-cost ratio of 75%. The property, classified as Class A, features a total of 282 units. The brokers from Meridian Capital Group described the property as a prime investment opportunity with attractive loan terms.