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.