globest.com

Error

An error occurred while fetching the data.

Error details: Error: INTERNAL_ERROR for f4e52c60-8287-9385-87db-8dadce350d4e: {"response":{"errors":[{"message":"INTERNAL_ERROR for f4e52c60-8287-9385-87db-8dadce350d4e","locations":[{"line":115,"column":7}],"path":["youmightlike"],"extensions":{"classification":"INTERNAL_ERROR"}}],"data":{"articleData":{"uri":"/2019/10/14/inner-loop-asset-sells-in-rare-value-add-deal/","canonicalUrl":"https://www.globest.com/2019/10/14/inner-loop-asset-sells-in-rare-value-add-deal/","generatedId":"gef45egihl","naturalId":"blogAndPostId/blog/post/312-13548","recombeeId":"312-13548","type":"ARTICLE","postFormat":null,"kickerPresentedBy":{"label":"","value":""},"breadcrumb":[],"presentedBy":"","title":"Inner Loop Asset Sells in Rare Value-Add Deal","readtime":"3","timeToRead":"3 minute","prettyModified":"","prettyDateTime":"October 14, 2019 at 10:00 PM","needToKnow":[],"byline":"Lisa Brown","nofollow":false,"showDisclaimer":true,"authors":[{"name":"Lisa Brown","description":"Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.","imageLarge":"http://images.globest.com/contrib/content/uploads/sites/312/2016/08/Lisa-Brown_avatar_1471886359-136x136.jpg","webUrl":"/author/profile/lisa-brown/"}],"publication":"Globe Street","kicker":"Features","kickerNode":[{"name":"Features","slug":"features-kicker","uri":"/features/","sectionName":"Features"}],"prettyDate":"October 14, 2019","pubDate":"2019-10-14 22:00:22:000","modifiedDate":"","isDownload":"false","primaryCategory":{"channelName":"","sectionName":"","name":"","uri":"","slug":"","channelUri":""},"tags":[],"image":{"uri":"https://images.globest.com/contrib/content/uploads/sites/312/2019/10/hou-lakes-of-610.jpg","width":"616","height":"372","alt":""},"embed1":"","embed2":"","summary":"Lakes of 610 offered a rare value-add opportunity due to all units maintaining original finishes as well as the Houston infill location, and after a potential rehab package, the asset may yield greater rents.","categories":[],"allCategories":[{"sectionName":"Houston","channelName":"GlobeSt Market"},{"sectionName":"Feature","channelName":"GlobeSt Sections"},{"sectionName":"Multifamily","channelName":"Globest Sectors"},{"sectionName":"Capital Markets","channelName":"Globest Topics"},{"sectionName":"Features","channelName":"Kicker"},{"sectionName":"Southwest","channelName":"Region"}],"bodyArray":["<figure id=\"attachment_13549\" align=\"alignright\" width=\"616\" xmlns:i=\"incisive-repository\" xmlns=\"http://www.w3.org/1999/xhtml\"><a href=\"https://images.globest.com/contrib/content/uploads/sites/312/2019/10/hou-lakes-of-610.jpg\"> <img class=\"size-full wp-image-13549\" src=\"https://images.globest.com/contrib/content/uploads/sites/312/2019/10/hou-lakes-of-610.jpg\" alt=\"Lakes of 610\" width=\"616\" height=\"372\"/></a> Lakes of 610 is a 276-unit multifamily community in southwest Houston.</figure> <hr xmlns:i=\"incisive-repository\" xmlns=\"http://www.w3.org/1999/xhtml\"/> ➤➤ Join the GlobeSt.APARTMENTS (formerly RealShare) conference October 29-30 in Los Angeles. The event will analyze the opportunity in the emerging trends and conditions of the multifamily market. Don't miss out on joining the 1,000+ of the industry's top owners, investors, developers, brokers and financiers as they gather for THE MULTIFAMILY EVENT OF THE YEAR! <a style=\"color: #993366\" href=\"https://www.event.globest.com/apartments\">Click here</a> to register and view the agenda. <hr xmlns:i=\"incisive-repository\" xmlns=\"http://www.w3.org/1999/xhtml\"/> HOUSTON—In a rare value-add opportunity situated across Houston's Inner Loop, Berkadia arranged the sale and financing of Lakes of 610, a 276-unit multifamily community in southwest Houston. Director Jennifer Ray and senior managing director Ryan Epstein of Berkadia's Houston office represented the seller, Starwood Capital Group, in the transaction. Managing director Andy Hill of Berkadia's Austin office secured a $19.7 million loan on behalf of Western Wealth Capital. Berkadia arranged and Freddie Mac purchased the loan. \"Lakes of 610 offered a rare value-add opportunity in Houston due to all of its units maintaining their original finishes, as well as the property's in-fill location,\" said Ray. \"After a potential rehab package, the asset may yield greater rents for the owner in an area surrounded by newer communities while improving the quality and standard of the property throughout.\" Built in 1983, Lakes of 610 is located at 2701 West Bellfort Ave. One- and two-bedroom units include mirrored closet doors, private balconies and patios, breakfast bar, dishwasher and extra storage. Community amenities include a swimming pool and spa, gated access and 24-hour maintenance. \"Western Wealth has plans for a major renovation in redoing the clubhouse, common areas and exteriors,\" Ray tells GlobeSt.com. \"Also, there are plans to overhaul the interiors with an appliance package, updated flooring, plumbing and lighting fixtures. Lakes of 610 is uniquely positioned as the only '80s vintage asset surrounded by new class-A apartments.\" Lakes of 610 is adjacent to Texas Medical Center, the largest medical center in the world and new developments such as TMC3 that will bring more than 25,000 jobs. Galleria/Uptown is approximately 10 minutes away and downtown Houston is about 15 minutes away. Stabilized occupancy levels have resulted in positive rental rate momentum, and while the trailing 12-month rental rate registers 3% growth, trailing six-month annualized rental rate growth is 4.7%, according to a recent report by JLL. One submarket that has recorded notable organic rent growth is Westchase, which boasts 7.3% trailing six -month rental rate growth with minimal fluctuation in total inventory."],"slides":[],"video":null},"articlePackages":[],"youmightlike":null,"readnext":{"contents":[{"uri":"/2025/07/10/florida-ends-tax-on-commercial-rent-bringing-relief-to-tenants/","title":"Florida Ends Tax on Commercial Rent, Bringing Relief to Tenants","byline":"Anthony Russo","summary":"The removal of the tax will increase the state's competitive advantage and lure more folks to Florida. ","prettyDate":"July 10, 2025","kicker":"Features","image":{"uri":"https://k2-prod-alm.s3.us-east-1.amazonaws.com/brightspot/2f/09/e07355b545bea551e6091b646509/kingsley-jonathan-620x372-1.jpg","width":"620","height":"372"},"breadcrumb":[],"primaryCategory":{"name":"","uri":"","channelName":"","channelUri":""},"allCategories":[{"channelName":"GlobeSt Market","sectionName":"National","slug":"national","channelUri":"markets"},{"channelName":"Region","sectionName":"Southeast","slug":"southeast-region-globest-markets","channelUri":"region"},{"channelName":"Globest Sectors","sectionName":"Office","slug":"office","channelUri":"sectors"},{"channelName":"Globest Sectors","sectionName":"Retail","slug":"retail","channelUri":"sectors"},{"channelName":"Globest Sectors","sectionName":"Multifamily","slug":"multifamily","channelUri":"sectors"},{"channelName":"Kicker","sectionName":"Features","slug":"features-kicker","channelUri":""}]},{"uri":"/2025/07/10/multifamily-delinquencies-climb-amid-worsening-cre-loan-performance/","title":"Multifamily Delinquencies Climb Amid Worsening CRE Loan Performance","byline":"Erik Sherman","summary":"Growth slows, delinquencies rise, and multifamily losses hit a peak.","prettyDate":"July 10, 2025","kicker":"Analysis","image":{"uri":"https://images.globest.com/contrib/content/uploads/sites/296/2023/04/Delinquent-Loan-Article-202304060805.jpg","width":"620","height":"372"},"breadcrumb":[],"primaryCategory":{"name":"","uri":"","channelName":"","channelUri":""},"allCategories":[{"channelName":"GlobeSt Market","sectionName":"National","slug":"national","channelUri":"markets"},{"channelName":"Globest Sectors","sectionName":"Multifamily","slug":"multifamily","channelUri":"sectors"},{"channelName":"Globest Topics","sectionName":"Capital Markets","slug":"capital-markets-globest-topics","channelUri":"globest-topics"},{"channelName":"Region","sectionName":"Northeast","slug":"northeast-region-globest-markets","channelUri":"region"},{"channelName":"Kicker","sectionName":"Analysis","slug":"analysis","channelUri":""}]},{"uri":"/2025/07/11/top-10-cre-funds-stockpile-billions-as-market-wonders-whats-next/","title":"Top 10 CRE Funds Stockpile Billions as Market Wonders What’s Next","byline":"Erik Sherman","summary":"The funds remain unused as they await the right opportunity.","prettyDate":"July 11, 2025","kicker":"Features","image":{"uri":"https://k2-prod-alm.s3.us-east-1.amazonaws.com/brightspot/ec/07/e42f1dd84c54b5f0c4804ce6fdad/dry-powder.jpeg","width":"620","height":"372"},"breadcrumb":[],"primaryCategory":{"name":"","uri":"","channelName":"","channelUri":""},"allCategories":[{"channelName":"GlobeSt Market","sectionName":"National","slug":"national","channelUri":"markets"},{"channelName":"Globest Topics","sectionName":"Capital Markets","slug":"capital-markets-globest-topics","channelUri":"globest-topics"},{"channelName":"Region","sectionName":"Northeast","slug":"northeast-region-globest-markets","channelUri":"region"},{"channelName":"Kicker","sectionName":"Features","slug":"features-kicker","channelUri":""}]},{"uri":"/2025/07/11/multifamilys-rising-loan-maturities-create-new-buying-opportunities/","title":"Multifamily's Rising Loan Maturities Create New Buying Opportunities","byline":"Erik Sherman","summary":"Distressed sales loom amid high debt and low coverage ratios.","prettyDate":"July 11, 2025","kicker":"Analysis","image":{"uri":"https://k2-prod-alm.s3.us-east-1.amazonaws.com/brightspot/3d/26/2b933d304f09aae46772f0115fa0/buying-opportunity.jpeg","width":"620","height":"372"},"breadcrumb":[],"primaryCategory":{"name":"","uri":"","channelName":"","channelUri":""},"allCategories":[{"channelName":"GlobeSt Market","sectionName":"National","slug":"national","channelUri":"markets"},{"channelName":"Globest Sectors","sectionName":"Multifamily","slug":"multifamily","channelUri":"sectors"},{"channelName":"Globest Topics","sectionName":"Capital Markets","slug":"capital-markets-globest-topics","channelUri":"globest-topics"},{"channelName":"Region","sectionName":"Northeast","slug":"northeast-region-globest-markets","channelUri":"region"},{"channelName":"Kicker","sectionName":"Analysis","slug":"analysis","channelUri":""}]},{"uri":"/2025/07/10/disagreement-grows-among-fed-officials-on-rate-cut-timing/","title":"Disagreement Grows Among Fed Officials on Rate Cut Timing","byline":"Erika Morphy","summary":"The tariff debate is disrupting the Fed’s policy playbook.","prettyDate":"July 10, 2025","kicker":"Analysis","image":{"uri":"https://k2-prod-alm.s3.us-east-1.amazonaws.com/brightspot/b1/0e/89779ab049e2a63ea4ff1d0fb5e9/fed-resize-jpeg.jpeg","width":"620","height":"372"},"breadcrumb":[],"primaryCategory":{"name":"","uri":"","channelName":"","channelUri":""},"allCategories":[{"channelName":"GlobeSt Market","sectionName":"National","slug":"national","channelUri":"markets"},{"channelName":"Globest Topics","sectionName":"Capital Markets","slug":"capital-markets-globest-topics","channelUri":"globest-topics"},{"channelName":"Globest Topics","sectionName":"Economy","slug":"economy","channelUri":"globest-topics"},{"channelName":"Region","sectionName":"Northeast","slug":"northeast-region-globest-markets","channelUri":"region"},{"channelName":"Kicker","sectionName":"Analysis","slug":"analysis","channelUri":""}]}]},"events":{"events":[{"eventTitle":"GlobeSt. ELITE Women of Influence (WOI) 2025","venueName":"","cleCredit":"no","description":"GlobeSt. Women of Influence Conference celebrates the women who drive the commercial real estate industry forward.","registrationURL":"","docUri":"/data-sources/events/GlobeSt.ELITEWomenofInfluence(WOI)2025:2024-09-03-04:00:33.xml","eventEndDate":"July 22, 2025","eventStartDate":"July 21, 2025","industry":["Real Estate"],"audience":["Conferences","Real Estate"],"city":"Denver","learnMoreLinkFile":"https://www.event.globest.com/WomenOfInfluence","imageUri":"https://assets.swoogo.com/uploads/full/4358074-66d72c273ea79.png","imageUri2":"https://assets.swoogo.com/uploads/full/4358079-66d72c46e3ce4.png","practiceArea":["Diversity","Leadership & Management","Women of Influence"]},{"eventTitle":"GlobeSt. Multifamily Fall 2025","venueName":"","cleCredit":"no","description":"Join the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!","registrationURL":"","docUri":"/data-sources/events/GlobeSt.MultifamilyFall2025:2025-04-10-04:00:43.xml","eventEndDate":"October 15, 2025","eventStartDate":"October 15, 2025","industry":["Real Estate"],"audience":["Conferences","Real Estate"],"city":"Los Angeles","learnMoreLinkFile":"https://www.event.globest.com/multifamily-fall","imageUri":"","imageUri2":"","practiceArea":["Multifamily"]}],"searchParams":{"estimate":2}}},"extensions":{"DateTime":"2025-07-13T02:19:09.504101221","ResponseTime":"?","AuthorizedUser":false,"AlmContext":"AlmContext{clientIP='10.0.253.254', internalIP='true', origin='', authorizedUser='false', Chinchilla, userAccount='null', UCID=null, ipAccount='null', olyEncId='null'}","NavServiceResponse":{"message":"No Content","action":"show-404","data":"","placResultsPublic":null},"DebuggingData":null,"UsedCache":"true","DataUrl":"http://ml2.alm.com:9216/bff-services/content/get-you-may-like-for-content.xqy?naturalId=/2019/10/14/inner-loop-asset-sells-in-rare-value-add-deal/&site=www.globest.com&total="},"status":200,"headers":{}},"request":{"query":"\n####\n####\n# QUERY\n# ROUTE:/2019/10/14/inner-loop-asset-sells-in-rare-value-add-deal/\n####\n\n\nquery Globest__view_article_no_sitedir{articleData:\n getContent(naturalId: \"/2019/10/14/inner-loop-asset-sells-in-rare-value-add-deal/\", site:\"globest.com\") {\n uri\n canonicalUrl\n generatedId\n naturalId\n recombeeId\n type\n postFormat\n kickerPresentedBy {\n \t\t label\n \t\t value\n \t\t}\n breadcrumb{\n name\n \t\turi\n }\n presentedBy\n title\n readtime\n timeToRead\n prettyModified\n prettyDateTime\n needToKnow\n byline\n nofollow\n showDisclaimer\n authors {\n name\n description\n imageLarge\n webUrl\n }\n publication\n kicker\n kickerNode {\n name\n slug\n uri\n sectionName\n }\n prettyDate\n prettyDateTime\n pubDate\n modifiedDate\n isDownload\n primaryCategory {\n channelName\n sectionName\n name\n uri\n slug\n channelUri\n }\n tags\n image {\n uri\n width\n height\n alt\n }\n embed1\n embed2\n summary\n categories {\n name\n uri\n channelName\n }\n allCategories {\n sectionName\n channelName\n } \n bodyArray\n slides {\n title\n image\n caption\n height\n width\n }\n video\n\n }\n articlePackages:\n getPackagesForArticle(docId: \"/2019/10/14/inner-loop-asset-sells-in-rare-value-add-deal/\", limit: 3, publication:\"globest.com\") {\n title \n slug\n type \n summary\n cssFile\n navigations {\n name\n link\n }\n articles {\n title\n kicker\n uri\n image {\n uri\n }\n }\n\n \n }\n youmightlike:\n getYouMayLikeForContent(naturalId: \"/2019/10/14/inner-loop-asset-sells-in-rare-value-add-deal/\", site:\"globest.com\") {\n uri\n title\n byline\n prettyDate\n readtime\n image {\n uri\n width\n height\n }\n summary\n }\n readnext:\n getStatsList(site:\"globest.com\", topic: \"\", limit: 5, timeframe: \"3days\" ) {\n contents {\n uri\n title\n byline\n summary\n prettyDate\n kicker\n image {\n uri\n width\n height\n }\n breadcrumb{\n name\n \t\turi\n }\n primaryCategory {\n name\n uri\n channelName\n channelUri\n }\n allCategories{\n channelName\n sectionName\n slug\n channelUri\n }\n breadcrumb {\n name\n uri\n }\n }\n\n }\n events:\n getFutureEvents(\n publication: \"GlobeSt\"\n pageSize: 10\n page: 1\n ) {\n events {\n eventTitle\n venueName\n cleCredit\n description\n registrationURL\n docUri\n eventEndDate\n eventStartDate\n industry\n audience\n city\n learnMoreLinkFile\n imageUri\n imageUri2\n practiceArea\n }\n searchParams {\n estimate\n }\n }\n }"}}

Go Home

Instant Insights /

Error