NEW YORK--Capital One Bank has provided loanstotaling $74 million to refinance two Houston apartment complexes,the San Cierra Apartments, a 362-unit garden-stylecomplex, and North Post Oak Lofts, a 330-unitmid-rise. John Reichenbach, senior vice presidentand south-central market manager, and Clay Wright,senior vice president and relationship manager in Capital OneCommercial Real Estate's Houston office, originated thetransaction.

The sponsor, Sueba USA, has developed 8,400apartment units over the past 30 years, along with several retailand commercial properties. The financing will be used to generatecash proceeds to recapitalize the two complexes.

“We have developed a close and productive working relationshipwith the Sueba team,” says Reichenbach. “The insights we havegained helped us to structure a transaction that complements thecompany's strategic goals.”

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.