Clear Sky Capital Buys Greenspoint Apartments, Market briefs

Greenspoint apartments sold.

In Houston, Clear Sky Capital of Phoenix has purchased the 192-unit North Park Apartments, 90 Northpoint Drive, in the Greenspoint area.

The project is located south of Beltway 8 and east of Interstate 45, south of Greenspoint Mall.

CBRE Capital Markets’ Debt & Structured Finance team has arranged $10 million in financing for the purchase with a 10-year, partial term interest-only, fixed-rate loan from Goldman Sachs.

“CBRE was instrumental in our ability to obtain a loan that worked with our purchase strategy,” said Marcus Kurschat, President of Clear Sky Capital.

The seller was North Park Apartments LLC, a group led by Gary Gray of Tacoma, Wash.

Andrew Behrens and Jesse Weber of CBRE’s San Francisco office secured the Goldman Sachs loan.