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Gautam Goyal's Three Pillars Capital Group Acquires 288-Unit Riviera At Clear Lake

Property Image
SOLD
Travis Austin
Gregory Austin
Will Balthrope
+ 2

Texas

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MultiFamily
Sold 05/15/2024
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Property Image
SOLD

Gautam Goyal's Three Pillars Capital Group Acquires 288-Unit Riviera At Clear Lake

16457 El Camino Real

See Similar Deals
MultiFamily
Sold 05/15/2024
Travis Austin
Gregory Austin
Will Balthrope
+ 2
the dealplayerscompscontact
Contact now

Summary

TEXAS
Asset Type:MultiFamily
Transaction Type:Sale

The 288-unit Riviera at Clear Lake in Houston, spanning 11 acres, located at 16457 El Camino Real, was acquired by Gautam Goyal's Three Pillars Capital Group. The purchase was facilitated by a $19.1 million loan from Veritex Community Bank.

Summary of transaction details:

Three Pillars Capital Group plans a two-year renovation and repositioning of the Riviera at Clear Lake as part of their strategy to increase their portfolio to $1 billion in assets.

Players

Drew Kile
Institutional Property Advisors
Drew Kile
80 deals$383.2M volume(972) 755-5276
BROKER
Will Balthrope
Institutional Property Advisors
Will Balthrope
89 deals$503.3M volume
BROKER
Gregory Austin
Marcus & Millichap
Gregory Austin
7 deals
BROKER
Travis Austin
Marcus & Millichap
Travis Austin
7 deals
BROKER
Jackson Hart
Institutional Property Advisors
Jackson Hart
4 deals(713) 452-4235
BROKER
Veritex Bank
Veritex Bank
LENDER

Details

SOLD
IMAGE: Gautam Goyal, Drew Kile, Jackson Hart, Will Balthrope, Gregory Austin & Travis Austin DATE: 05/15/2024 ADDRESS: 16457 El Camino Real MARKET: Houston ASSET TYPE: Multifamily ~ UNITS: 288 ~ ACRES: 11 BUYER: Gautam Goyal - Three Pillars Capital Group BROKERS: Drew Kile (@DKFW13), Jackson Hart, Will Balthrope, Gregory Austin & Travis Austin - Institutional Property Advisors LENDER: Veritex Community Bank NOTE: Three Pillars Capital Group acquired the 288-unit Riviera at Clear Lake in Houston, planning a two-year renovation and repositioning. The deal, financed by a $19.1 million loan from Veritex Community Bank, is part of Three Pillars' strategy to expand its portfolio to $1 billion in assets.

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