HOUSTON – (Realty News Report) – Salt Lake City-based Sundance Bay has bolstered its Sun Belt Holdings with a two-property apartment portfolio totaling 626 units in Texas.
The portfolio consists of Grove East, a 324-unit garden-style community at 9300 N. Sam Houston Parkway East in Humble, and Rowlett Station, a 302-unit mid-rise community at 3601 Melcer Drive in Rowlett. Both properties were built in 2021.
Cushman & Wakefield’s Texas Equity, Debt & Structured Finance team, led by Chase Johnson and Caleb Riebe, arranged $95.74 million in financing on behalf of Sundance Bay. Benefit Street Partners provided $76.24 million in senior debt and CCL Capital provided a $19.5 million mezzanine loan…