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Capital One Provides $74MM to Refinance Houston Apartment Complexes

October 23, 2014, 06:58 AM
Filed Under: Real Estate

Capital One Bank announced it has provided loans totaling $74 million to refinance two Houston apartment complexes, the San Cierra Apartments, a 362-unit garden-style complex, and North Post Oak Lofts, a 330-unit mid-rise. John Reichenbach, Senior Vice President and South-Central Market Manager, and Clay Wright, Senior Vice President and Relationship Manager in Capital One Commercial Real Estate’s Houston office, originated the transaction.

The sponsor, Sueba USA, has developed 8,400 apartment units over the past 30 years, along with several retail and commercial properties. The financing will be used to generate cash proceeds to recapitalize the two complexes.

“We have developed a close and productive working relationship with the Sueba team,” said Reichenbach. “The insights we have gained helped us to structure a transaction that complements the company’s strategic goals.”

“The Capital One Bank team coordinated the financial solution we needed,” said John Leonard, Sueba USA’s Chief Financial Officer. “We were impressed with their dedication to developing and completing a tailored financing solution that suits our needs.”

Capital One Bank’s Commercial Real Estate Group provides financing in markets nationwide, offering a comprehensive array of solutions for property owners and developers, including balance sheet and agency lending, financing, underwriting, and treasury management.

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