ACRES originated a $49 million construction loan to fund the completion of Sovereign at the Ballpark, a 229-unit, Class A multifamily building located at 101 Crawford Street in Downtown Houston. The loan carries a term of 18 months and is provided to sponsor Russ Krivor, an experienced investor with over $300 million in assets under management and more than 4,000 completed and leased apartments throughout the U.S.
Sovereign at the Ballpark encompasses six stories over a two-level, concrete parking structure and features diverse amenities including:
The Property’s position within the highly walkable and rapidly redeveloping Warehouse District of Downtown Houston is within close proximity to Minute Maid Park, Discovery Green, the George R. Brown Convention Center, Toyota Center, historic Market Square Park, as well as numerous shopping, entertainment, and dining options.
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