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7/17/25
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29th Street Finance has made a $4.5 mil preferred equity investment in Milo on Westheimer, a 2015 vintage, 230-unit Class A multifamily property in Houston, TX. This preferred equity investment is subordinate to a Freddie Mac senior loan secured by the sponsor, Brem Group.
Located in the Briar Forest/Ashford submarket of Houston, just minutes from the Energy Corridor and Westchase District. Milo features modern amenities and spacious layouts. Milo on Westheimer offers residents upscale amenities including a resort-style pool, 24-hour fitness studio, clubhouse with coffee bar, business center, and pet-friendly spaces. Apartment interiors feature gourmet kitchens with granite countertops, stainless steel appliances, in-unit washers and dryers, and flexible home office space.
Commenting about the deal, Matt Compton, Vice President of Acquisitions at 29th Street, points out that Milo on Westheimer is well positioned in a high-demand submarket with strong fundamentals and rent growth potential. 29th Street Finance specializes in preferred equity investments between $3 mil and $15 mil.
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