Stafford Apartment Complexes Secure $110 Million Refinancing

Walker & Dunlop Capital Markets Institutional Advisory has facilitated a $110 million refinancing for two apartment complexes, 1879 at the Grid and Arc at the Grid, situated in Stafford, Texas. These properties, totaling 731 units, are part of The Grid, a 192-acre mixed-use development that redeveloped the former Texas Instruments Campus. The Grid, a project by StreetLevel Investments and Provident Realty Advisors, is located at the intersection of Highway 59 and West Airport Boulevard, southwest of Houston in Fort Bend County.

The floating-rate, interest-only loan was arranged for Lone Star Funds, the owner through its affiliate Hudson Advisors, and provided by TPG Real Estate Credit. Built by JLB Partners in 2019 and 2020, the complexes offer a mix of studio, one, two, and three-bedroom residences across 653,000 rentable square feet. Amenities include resort-style pools, fitness centers, and coworking spaces. This refinancing underscores the appeal of well-located multifamily assets benefiting from the growth in the Stafford and Sugar Land corridor, approximately 17 miles from downtown Houston. The deal reflects confidence in the assets and the sponsor's reputation within the Southwest Houston market.