Press Releases
Marcus & Millichap Capital Corporation Arranges $54 Million HUD Refinance for Houston-Area Multifamily Asset
May 11, 2026
HOUSTON, May 11, 2026 – Marcus & Millichap Capital Corporation (MMCC), a leading provider of commercial real estate capital markets financing solutions, has arranged a $54 million HUD refinance for Lakeview at Westpark, a 298-unit multifamily asset in Richmond, Texas. MMCC’s capital markets team was led by Brandon Brown, senior managing director in the firm’s Houston office. Brown represented Rockstar Capital and secured the financing through KeyBank at a fixed rate of 5.3% with 35 years of amortization.
“This transaction involved refinancing a floating rate bridge loan into HUD financing for a property structured with a local Housing Finance Corporation (HFC),” said Brown. “Navigating HFC deals is never simple and the implementation of Texas HB21 added another layer of complexity that made this process especially tedious. Despite the challenges, our team stayed the course working through evolving requirements to deliver a successful outcome.”
Built in 2021 and acquired by Rockstar Capital in 2022, the apartment community is in the fast-growing Richmond/Katy corridor. The firm currently owns and manages 23 multifamily properties totaling 4,567 units throughout Texas.
“Under Rockstar Capital’s ownership and hands-on management, the property will continue to benefit from the company’s focus on operational excellence, resident experience, and ongoing property improvements,” said Robert Martinez, CEO at Rockstar Capital. “This refinance demonstrates strong lender confidence in high-growth Texas submarkets and provides capital to support long-term value creation.”
“This transaction involved refinancing a floating rate bridge loan into HUD financing for a property structured with a local Housing Finance Corporation (HFC),” said Brown. “Navigating HFC deals is never simple and the implementation of Texas HB21 added another layer of complexity that made this process especially tedious. Despite the challenges, our team stayed the course working through evolving requirements to deliver a successful outcome.”
Built in 2021 and acquired by Rockstar Capital in 2022, the apartment community is in the fast-growing Richmond/Katy corridor. The firm currently owns and manages 23 multifamily properties totaling 4,567 units throughout Texas.
“Under Rockstar Capital’s ownership and hands-on management, the property will continue to benefit from the company’s focus on operational excellence, resident experience, and ongoing property improvements,” said Robert Martinez, CEO at Rockstar Capital. “This refinance demonstrates strong lender confidence in high-growth Texas submarkets and provides capital to support long-term value creation.”
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2025, the company had 1,808 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 8,818 transactions in 2025, with a sales volume of approximately $50.9 billion. For additional information, please visit www.MarcusMillichap.com.
