Berkadia announces it has arranged the sale and financing of 5 Oaks, a 228-unit, multifamily community in Houston. Managing Director Jeffrey Skipworth, Senior Managing Directors Chris Curry and Todd Marix, Managing Directors Chris Young and Joey Rippel and Director Kyle Whitney of Berkadia Houston represented the seller, Haven Realty Capital, a Los Angeles-based real estate investment and management firm.
Director Johnny King of Berkadia Houston secured debt on behalf of the buyer, Lone Star Capital, a multifamily investment firm based in New York, N.Y.
“5 Oaks is in a well-positioned growth corridor of North Houston with limited new supply and an influx of corporate relocations nearby to The Woodlands, that will drive strong demand and support rent growth projections,” said Skipworth.
Located at 18203 Westfield Place, 5 Oaks offers one- and two-bedroom units that range from 464 to 1,043 square feet. Individual units feature open layouts, 9-foot and vaulted ceilings, wood-style flooring, cherry wood custom cabinetry, walk-in closets, soaking tubs, private patios and balconies and in-unit washers and dryers. Community amenities include a clubroom with social areas, a resident kitchen with a complimentary coffee bar, business center with free Wi-Fi, a 24-hour fitness center, swimming pool with a sundeck, lounges and cabanas, grilling stations, a dog park, and package lockers.
5 Oaks is in a popular enclave of North Houston that is close to CityPlace, ExxonMobil’s new global HQ campus, The Woodlands, the HCA Houston Healthcare Northwest Hospital, Bush Intercontinental Airport, Lone Star College North Harris Campus and North Houston’s only dog park in Lent Family Park.