Marcus & Millichap Capital Corporation (MMCC) arranged a $54 million HUD refinance for Lakeview at Westpark, a 298-unit multifamily asset in Richmond, Texas. MMCC’s capital markets team was led by Brandon Brown. Brown represented Rockstar Capital and secured the financing through KeyBank at a fixed rate of 5.3% with 35 years of amortization.Â
The rental asset was built in 2021 and acquired by Rockstar Capital in 2022. Rents range from $1,285 to $1,994 for one- to three-bedroom units. It’s offering up to 8 weeks free on select apartment units.
Community amenities include a pool with tanning deck, a fully equipped fitness center, a resident lounge with coffee bar, outdoor entertainment spaces, and a pet-friendly environment with a bark park and paw spa.
The firm currently owns and manages 23 multifamily properties totaling 4,567 units throughout Texas.Â
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