Berkadia Arranges 180-Unit Multifamily Property Sale and Financing in Houston, Texas
Houston – June 8, 2026 – Berkadia, a distinguished leader in the commercial real estate sector, announced today the sale and financing of Harper’s Mill, a 180-unit multifamily property built in 1984 and located in Houston, Texas.
The Berkadia Houston Investment Sales team was led by Senior Director Kyle Whitney and included Senior Managing Director Chris Curry, Managing Directors Jeffrey Skipworth, Chris Young and Joey Rippel, and Associate Directors Jed Dalton and Tucker Fama. The team completed the transaction on behalf of the seller, Interurban Companies. The sale price was not disclosed.
Managing Director Brad Williamson and Senior Managing Director Mitch Sinberg, along with Managing Directors Scott Wadler and Matthew Robbins and Vice President Kyle Ryan of Berkadia Miami and Boca Raton secured the financing on behalf of the sponsor, 12ten Capital.
Santander provided the five-year, fixed-rate loan featuring three years of interest-only payments and a 30-year amortization schedule. The lender also provided the ability to early rate lock, allowing the sponsor to avoid the recent rise in interest rates.
“Interurban Companies has been a strong long-term owner of Harper’s Mill, maintaining the asset’s performance over more than two decades of ownership,” said Kyle Whitney. “12ten Capital recognized an attractive opportunity to acquire a well-located asset off-market with strong in-place fundamentals and value-add upside. This transaction represents a strategic entry into the Houston market for 12ten, supported by a solid going-in yield with the ability to drive returns through consistent renter demand in the Houston market and a focused value-add program.”
“Harper’s Mill presented an attractive opportunity to finance a well-located workforce housing asset in one of Houston’s most established residential corridors,” said Brad Williamson. “The ability to secure an early rate lock created meaningful value for the sponsor and helped protect the transaction from recent market volatility.”
“Harper’s Mill is the first acquisition of our latest fund, and we are actively looking for more opportunities in the workforce housing space,” said Luis Felipe San Martín, Managing Partner of 12ten Capital. “We’re acquiring well-located assets below replacement cost in markets with durable demand, and we have the capital and conviction to keep executing.”
Advantageously located in Northwest Houston, Harper’s Mill was built in 1984 and consists of 180 apartment homes offering a mix of one- and two-bedroom floor plans, including one-bedroom townhome layouts. The well-amenitized community is zoned to Katy ISD, the #1 ranked school district in the Houston metro. Residents have excellent connectivity to major employment districts throughout the city via Highway 6, Interstate 10, and Highway 290, as well as both outer loops. The property is only 15 minutes from Energy Corridor, the central business district of West Houston, and is in the path of growth with the bulk of Houston’s job and population gains moving westward.