Chicago-Based 29th Street Invests $4.5M in Texas Multifamily Project
29th Street Finance has completed a $4.5 million preferred equity investment in Milo on Westheimer, a 230-unit multifamily community located in Houston, Texas.
The investment is subordinate to a Freddie Mac senior loan secured by property sponsor Brem Group. Milo on Westheimer is situated just minutes from Houston’s Energy Corridor and the Westchase District. The community offers one- and two-bedroom apartments, along with amenities including a resort-style pool, fitness studio, clubhouse with coffee bar, business center, and pet-friendly features.
“Milo on Westheimer is well-positioned in a high-demand submarket with strong fundamentals and rent growth potential,” said Matt Compton, Vice President at 29th Street. “Our ability to move quickly and support the property through our in-house management team underscores the strategic value we bring as a preferred equity provider.”
Based in Chicago, 29th Street is a privately held investment management firm, primarily focused on multifamily real estate and proptech innovation.
