HOUSTON – Florida-based Cardone Capital has purchased two multifamily properties totaling 646 units in the Heights neighborhood from Alliance Residential.
The first property is the 337-unit 15th Street Flats at 1414 N. Shepherd Dr. It was built in 2021 and has one- and two-bedroom units ranging from 638 to 1,273 sf.
The second community is the 309-unit Heights Waterworks at 515 W. 20th St. Built in 2020, the community has one- and two-bedroom floor plans ranging from 600 to 1,265 sf.
Berkadia represented the seller and arranged acquisition financing on behalf of the borrower.
Cincinnati-based Eagle Realty Group provided the six-year loan.