HOUSTON – (Realty News Report) – Newmark arranged a bridge loan to refinance the Citadel Apartments in the Heights area in a deal that signals the strength of the U.S. multifamily capital markets.
Newmark Managing Director James Maynard and Vice President Robert Wright secured the refinancing on behalf of New York-based Lightstone. The loan was obtained from Greystar through its debt fund platform.
Located near Loop 610 North and T.C. Jester Boulevard, the 293-unit complex was built in 2019. Citadel offers one-, two- and three-bedroom units. Amenities include a parlor with billiards, a community kitchen and co-working space, a resort-style pool and outdoor grilling areas.
“The outcome and depth of competition among lenders for this financing exemplifies the continued liquidity for performing assets owned and operated by institutional sponsors,” said Maynard. “We were pleased to represent Lightstone in refinancing the asset, retiring the financing we arranged at the time of their off-market acquisition in 2021, and to secure additional term through a new lending relationship.”
The Heights submarket absorbed approximately 1,300 units over the past year against about 830 deliveries, according to Newmark.
Nationally, multifamily absorption exceeded 279,000 units in the first half of 2026, the second-highest total on record, while the under-construction declined to 2.7% of existing inventory, according to Newmark. Multifamily debt originations increased 26% year over year.
Boilerplate: Based in New York City, Lightstone is a privately held real estate company founded by David Lichtenstein. Lightstone is active in 29 states across the country, developing, managing, and investing in all sectors of the real estate market including residential, hospitality, commercial, and retail. Its $12 billion portfolio includes 258 properties spanning over 17 million SF.
Oct. 29, 2026, Realty News Report Copyright 2026
Feature image: Newmark courtesy photo.
THE RALPH BIVINS PROJECT PODCAST
LISTEN: THE RALPH BIVINS PROJECT with Joe Rothchild and Jana Hayes with Keller Williams Houston Central
LISTEN: THE RALPH BIVINS PROJECT with Sam Scott of CommGate
LISTEN: THE RALPH BIVINS PROJECT with Stephen Meek of StreetLights Residential
LISTEN: THE RALPH BIVINS PROJECT with Mike Spears of Lee & Associates Houston
LISTEN: THE RALPH BIVINS PROJECT with Bob Parsley of Colliers Houston
LISTEN: THE RALPH BIVINS PROJECT with Mark Davis of Davis Commercial
LISTEN: THE RALPH BIVINS PROJECT with David Hightower of Midway
LISTEN: THE RALPH BIVINS PROJECT with Alex Kamkar of Bold Fox Development
LISTEN: THE RALPH BIVINS PROJECT with Brad McWhirter of Trahan Architects
LISTEN: THE RALPH BIVINS PROJECT with Lacee Jacobs of Rebel Retail Advisors
LISTEN: THE RALPH BIVINS PROJECT with Danny Rice of Colliers
LISTEN: THE RALPH BIVINS PROJECT with Trey Odom of Avera
LISTEN: THE RALPH BIVINS PROJECT with Kris Larson of Downtown Houston+
LISTEN: THE RALPH BIVINS PROJECT with Jim Carman of Howard Hughes Holdings
File: NY Investor Secures Loan for Heights Apartments