July 23, 2020
Berkadia arranged the sale and financing of Lago del Mar Apartments, a 260-unit garden-style apartment community in Laredo. Senior managing director Ryan Epstein of Berkadia’s Houston office, along with managing director Mike Miller, senior director Will Caruth and director Cody Courtney of Berkadia’s San Antonio office, represented the seller, a Chicago-based real estate investment management firm.
Senior managing director Cutt Ableson of Berkadia’s Houston office procured financing for the buyer, Haley Real Estate Group, through Fannie Mae.
“Lago del Mar is a vintage apartment complex in an excellent location that was primed for a value-add execution,” said Epstein. “Located in the economic epicenter of the Rio Grande Valley, the city of Laredo continues to benefit from economic drivers including steady growth in shale oil and gas production, infrastructure construction, and growth in logistics and warehousing, all of which brings more business to town each year.”
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