Tara Capital Secures $55.5M Loan From BridgeInvest For Park On Voss Renovations
2424 South Voss Road
650,000 SF
Summary
The 810-unit Park on Voss property, located at 2424 South Voss Road in Houston, was purchased for $63 million from Barvin Group. The property, a multifamily asset spanning 650,000 square feet, is set to undergo renovations funded by a $55.5 million loan from Miami-based BridgeInvest. The loan will be utilized to upgrade 610 units along with enhancing appliances, HVAC systems, and exterior features to reach market rents averaging just under $1,600 per month in the Galleria/Uptown submarket.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $55,500,000
- Units: 810
- Lender: Alex Horn - BridgeInvest
- Landlord: Gopal Aggarwal - Tara Capital
Tara Capital, led by Gopal Aggarwal, secured the $55.5 million loan for the Park on Voss property's renovations. Alex Horn of BridgeInvest facilitated the loan for the multifamily asset, aligning with Tara Capital's plans to enhance the property and boost market rents in the area.
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