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Two multifamily assets in Houston's Heights sold

​​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.

texaslogo.pngThe Texas Real Estate Research Center has more information on housing:​

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