Tuesday , 27 September 2016
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ComCapp Buys Apartment Complex Near University of Houston

Cityside Crossing multifamily project in Houston was sold to ComCapp.

Cityside Crossing multifamily project in Houston was sold to ComCapp, a San Antonio-based firm.

HOUSTON — Commerce Capital Partners, a San Antonio-based firm also known as ComCapp, has purchased Cityside Crossing, a 360-unit multi-housing community in southeast Houston, near the University of Houston main campus.

HFF worked on behalf of ComCapp to secure the 12-year, fixed-rate Fannie Mae loan through M&T Realty Capital Corp.  Proceeds from the securitized loan were used to acquire the property.

Cityside Crossing is located at 5514 Griggs Road near the South Loop East Freeway and the new METRORail Southeast/Purple line.  In addition, the property is less than two miles southeast of the University of Houston Central Campus.

Ryan Epstein and Clint Duncan,  both of CBRE, represented the seller, Philadelphia-based RRE Skyview Holdings, LLC.

The asset is 95 percent leased and is adjacent to City Park at Palm Center, which includes a splash pad, playground, outdoor kitchen, urban garden, farmer’s market and walking trails.

The HFF debt placement team representing ComCapp was led by director Robert Wooten.

Founded in 2007, ComCapp is a private real estate management and investment firm focused on commercial real estate in the Sun Belt – primarily Texas. The company holds positions in 16,000 apartment units and 3.5 million sf of commercial space.

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