Berkadia announces it has arranged the sale and finance of Cypress Parc, a 200-unit garden-style multifamily community in Houston, Texas. Managing Directors Chris Young and Joey Rippel, Director Kyle Whitney, Managing Director Jeffrey Skipworth and Senior Managing Directors Chris Curry and Todd Marix of Berkadia Houston represented the seller, Lionel Partners, an investment management company based in Orem, Utah.
Senior Managing Director Cutt Ableson of Berkadia Houston secured the debt on behalf of the buyer, Trinnium Equity Group, a real estate investment and property management company based in Salt Lake City, Utah.
Located at 18001 Cypress Trace Road, Cypress Parc is a two-story multifamily community that uniquely offers only two- and three-bedroom units that range from 926 to 1,420 square feet. Individual unit amenities feature electric kitchens with pantries, floor carpeting, window coverings, ceiling fans, walk-in closets, private balconies or patios, and washer and dryer connections. Community amenities include a pool, fitness center, laundry facilities, business center, clubhouse, volleyball court, grill, and picnic area.
Cypress Parc is across from the popular Lents Dog Park and Lents Family Park and near the North Houston regional medical district. It is within 15 minutes of The Woodlands and George Bush Intercontinental Airport and less than 30 minutes away from Downtown Houston.
Berkadia, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is a leader in the commercial real estate industry, offering a robust suite of services to our multifamily and commercial property clients. Through our integrated mortgage banking, investment sales and servicing platform, Berkadia delivers comprehensive real estate solutions for the entire life cycle of our clients’ assets. To learn more about Berkadia, please visit www.berkadia.com.