Clear Sky Capital Acquires Greenspoint Apartments in Major Deal
Greenspoint apartments sold.
HOUSTON – Clear Sky Capital of Phoenix has purchased the 192-unit North Park Apartments, located at 90 Northpoint Drive in the Greenspoint neighborhood.
The property sits just south of Beltway 8 and east of Interstate 45, a short distance south of the Greenspoint Mall, in a well-established Houston submarket.
Financing for the acquisition was arranged by CBRE Capital Markets’ Debt & Structured Finance team. Goldman Sachs provided a $10 million loan structured as a 10-year, partial term, interest-only, fixed-rate mortgage to support the purchase.
“CBRE played a key role in securing financing that aligned with our acquisition strategy,” said Marcus Kurschat, President of Clear Sky Capital.
The seller was North Park Apartments LLC, an ownership group led by Gary Gray of Tacoma, Washington.
Andrew Behrens and Jesse Weber from CBRE’s San Francisco office negotiated and secured the Goldman Sachs loan on behalf of the buyer.
