Overwatch Fund, a Fort Worth-based real estate investment firm, recently added Lavera at Lake Highlands to its multi-family holdings portfolio. The 280-unit property located in the Richardson School District will be subject to extensive interior and exterior renovations.
Sonnenblick-Eichner Company arranged a nonrecourse loan of $21 million for Cotton Court, a 165 room hotel in Lubbock TX. This fixed rate first mortgage was interest only for the entire term with an interest rate of 7.6%. A rate buydown was required by the lender to achieve this favorable outcome and proceeds were released accordingly. According David Sonnenblick “Our client benefited from this refinancing as it allowed them to pay off their bank construction loan which had been floating SOFR based facility with amortization resulting in increased cash flow and significant return on capital invested”
Harbor Group International LLC purchased The Warner apartment complex located Round Rock Texas from co developers Stanmore Partners & Transwestern Investment Group .The 336 unit 326015 square foot complex completed last year is situated on 11 acres at 3670 S AW Grimes Blvd .At time of sale occupancy stood at 96 1% while 97 5% leased making it an attractive acquisition target .
Longpoint has bolstered its team by appointing two new regional hires into newly created roles , Roger Waggoner joins as Director Of Acquisitions tasked with expanding Longpoints industrial asset portfolio across Texas while Micah Faulkner takes up Construction Manager role responsible for value add repositioning & adaptive reuse strategies both personnel will be based out Dallas office
