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

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:

• Property Type: Multifamily
• Transaction Amount: $19.1 million
• Units: 288
• Acres: 11
• Buyer: Gautam Goyal - Three Pillars Capital Group
• Brokers: Drew Kile, Jackson Hart, Will Balthrope, Gregory Austin & Travis Austin - Institutional Property Advisors
• Lender: Veritex Community Bank

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.