AUSTIN, TX – HFF announced it has arranged acquisition financing and joint venture equity for Timberstone Apartments (top left photo), a 240-unit multi-housing community in Houston, Texas.
HFF worked on behalf of Commerce Capital Partners, LLC to secure the acquisition loan through RGA Reinsurance Company. HFF also arranged a joint venture equity contribution for the acquisition from a private investor.
Timberstone Apartments is located at 4200 West FM 1960, close to major Houston employers including Hewlett Packard, Exxon Mobil and Lone Star College in north Houston. Situated on 13.4 acres, the property has 10 residential buildings that are 95 percent leased. Community amenities include a pool, barbeque grills, clubhouse and fitness center.
The HFF team representing Commerce Capital Partners, LLC was comprised of senior managing director Douglas Opalka (middle right photo), managing director Matt Kafka (middle left photo), and associate director Robert Wooten.
Commerce Capital Partners, LLC is a private real estate investment firm focused on multifamily acquisitions, management and asset management in Texas, Arizona and Florida.
The principals in ComCapp have ownership interest in more than 60 properties comprising more than 14,000 apartment units and 3.5 million square feet of commercial space in eight states.
Contacts:
DOUGLAS OPALKA
HFF Senior Managing Director
(512) 532-1900
ROBERT WOOTEN
HFF Associate Director
(512) 532-1900
KRISTEN MURPHY
HFF Associate Director, Marketing
(713) 852-3500
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