Newmark Arranges Sale and Financing of Lakeside, a 296-Unit Multifamily Property in Houston, Texas

December 2, 2025 1:00 PM

Newmark announces the Company has completed the sale and financing of Lakeside, a 296-unit multifamily community located at 9550 Meyer Forest Drive in Houston, Texas. Newmark Multifamily Capital Markets Vice Chairman David Mitchell represented the seller, Knightvest Capital, in the sale transaction. Vice Chairman Colin Cross secured the financing on behalf of the buyer, Pegasus Real Estate.

“This transaction reflects the strong and sustained investor appetite for high-quality multifamily assets in Houston,” said Mitchell. “Lakeside’s recent improvements, strong demographics and exceptional access to major employment drivers make it well positioned for durable long-term performance.”

Built in 2001, Lakeside is a mid-rise community featuring a mix of one-, two- and three-bedroom units averaging nearly 1,000 square feet. The property was 92% occupied at the time of sale and has benefited from substantial recent capital improvements, including enhancements to the clubhouse, pool and outdoor amenities, as well as upgrades to the 24-hour fitness center and the addition of a dog park. These improvements, combined with remaining value-add opportunity, position the asset for continued operational upside.

Lakeside is located minutes from the Texas Medical Center – one of the world’s largest medical districts – and the Galleria/Uptown area, two of Houston’s most significant employment hubs. Residents benefit from proximity to major life science, healthcare, retail and corporate employment centers, as well as adjacency to the multiple-acre Duck Park Lake. The community caters to an affluent renter base with average household incomes exceeding $110,000.

According to Newmark Research, multifamily occupancy for all classes has risen 1.6% year-to-date in 2025, reaching 90.0% as of September – the highest level since December 2022. Class A absorption remains strong, with 18,673 units absorbed over the past year, well above the 10-year average of 13,019 units. Looking ahead, 2025 transaction volume is projected to exceed 2024 by 3.3%, with total transactions expected to rise 12.5% amid interest-rate compression and downward cap-rate pressure.

About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the twelve months ended September 30, 2025, Newmark generated revenues of over $3.1 billion. As of September 30, 2025, Newmark and its business partners together operated from approximately 170 offices with over 8,500 professionals across four continents. To learn more, visit nmrk.com or follow @newmark.

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