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Fort Worth Firm Buys Woodlands Multifamily Project

Sienna Pines multifamily community has been acquired by a Fort Worth-based firm.

HOUSTON – (Realty News Report) — Berkadia Real Estate Advisors has arranged the sale and financing of Broadstone Sierra Pines, a 341-unit, garden-style property in The Woodlands area of Houston.

Senior Managing Director Ryan Epstein and Director Jennifer Ray of Berkadia’s Houston office represented the seller, Alliance Residential Company, a real estate investment firm based in Phoenix.

Senior Managing Director Tucker Knight and Director Nicholas Murphy of Berkadia’s Houston office arranged the loan on behalf of the buyer, Olympus Property, a Fort Worth-based multifamily investment and property management organization with 17,000 units across 10 states

Fannie Mae provided a 10-year loan with seven years interest only.

Built in 2014, Broadstone Sierra Pines offers one- and two-bedroom units that include solid bamboo flooring, designer carpeting, granite countertops, stainless steel appliances, full-size washer/dryer and ceiling fans with custom lighting. Amenities feature a social clubroom, 24-hour athletic center, yoga space, private massage center, executive business lounge and zen courtyard.

Berkadia, a joint venture of Berkshire Hathaway and Jefferies Financial Group, offers a variety of services to multifamily and commercial property clients.

Dec. 17, 2018 Realty News Report Copyright 2018

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