Marcus & Millichap Capital Corporation (MMCC), a leading provider of commercial real estate capital markets financing solutions, has arranged $56.2 million in acquisition financing for Legacy at Cypress, a 422-unit multifamily property located at 11111 Grant Road in Cypress, Texas. Jamie Mullin, senior managing director, and Brandon Brown, senior managing director, exclusively secured the financing. Mullin and Brown are based out of MMCC’s Houston office.
“We worked diligently creating a market in somewhat volatile times and were able to perform on this acquisition loan for our client,” said Mullin. This is an emerging sponsor, and this is their largest transaction to date. Even with the market volatility we were able to work with the lender and borrower to close timely and maintain the same deal terms as per the letter of intent.”
Built in 1999, the three-story building offers 1-to-3-bedroom apartments and a vast offering of amenities including business center, parking, and fitness center. The Legacy at Cypress Apartments consistently attracts tenants with its abundance of green spaces and easy access to downtown, uptown and midtown Houston.