HOUSTON – (Realty News Report) –Sentinel Peak Capital Partners has acquired the Lakebridge Apartments, a 272-unit, value-add, garden-style apartment community in the Spring submarket in North Houston, according to JLL Capital Markets.
JLL marketed the propertyand JLL worked on the new owner’s behalf to arrange floating-rate acquisition financing, which was provided by Voya Investment Management.
Lakebridge Apartments is located at 300 Woerner Road in the Spring submarket. Phase I of the property was originally developed in 1984 as condominiums and Phase II was added in 2001. The property features 19 two-story buildings situated on 13.2 acres with residential units averaging 896 square feet. All ground-floor units have been recently renovated.
The JLL Capital Markets team representing the seller was led by Chip Nash, Bob Heard, Greg Austin, Chris Young, Joey Rippel, Chris Curry and Todd Marix.
JLL’s Capital Markets debt placement team representing the new owner was led by Campbell Roche and James Brolan.