Cube Equity Group Secures $144.4M Loan For Acquisition Of Aspen Forest In Houston

The property asset involved in this transaction is Aspen Forest, a 144-unit garden-style multifamily community located at 16311 Luzerne Drive in Houston, TX. The acquisition loan arranged by Lument amounted to $144,400,000, featuring a fixed rate and a five-year term, alongside partial interest-only payments and a 30-year amortization schedule. The property underwent renovations in 2020 and consists entirely of two-bedroom units.

Summary of transation details:

• Property Type: MultiFamily
• Transaction Amount: $144,400,000
• Units: 144
• Landlord: Cube Equity Group
• Originator: Ted Nasca - Lument
• Loan Type: Acquisition
• Loan Terms: fixed rate, five-year

Ted Nasca from Lument was instrumental in arranging the financing for Cube Equity Group to facilitate the acquisition of this multifamily community, ensuring that all aspects of the transaction were handled efficiently. The financing terms provided a favorable structure for the landlord to invest in this property.