Lone Star Funds lands $110M refi on 731-unit Stafford pair

Lone Star Funds refinanced two Stafford apartment communities totaling 731 units with a $110 million loan arranged by Walker & Dunlop.

Why it matters

The loan covers 1879 at the Grid and Arc at the Grid, built in 2019 and 2020 inside a 192-acre mixed-use development. Stafford is a Fort Bend County city southwest of Houston. TPG Real Estate Credit funded the floating-rate, interest-only loan. For Fort Bend owners holding 2019 and 2020 vintage apartments, the deal is a current refinance benchmark: about $150,500 of debt per unit. Texas deeds carry no sale price, so loan sizes like this one are among the few public data points on what lenders will advance against Fort Bend apartments. Walker & Dunlop announced the financing on Oct. 15, 2026.

The numbers

• $110,000,000 loan, floating-rate and interest-only
• 731 units across two properties, about $150,500 per unit
• About 653,000 rentable sq ft combined
• Built 2019 (1879 at the Grid) and 2020 (Arc at the Grid)

Walker & Dunlop’s Capital Markets Institutional Advisory team, led by Dustin Stolly, acted as exclusive advisor to Lone Star Funds. The team also included Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz, Sean Reimer, Michael Ianno and Edward Leboyer. Both properties offer studio, one-, two- and three-bedroom units. Amenities listed in the release include resort-style pools, fitness centers and coworking space.

What’s next

The release discloses no maturity date or planned capital work. Floating-rate debt resets with the benchmark rate, so the properties’ carrying cost moves with any change in short-term rates. No deed of trust for the loan had surfaced in Fort Bend County clerk records at publication. We will add the instrument number when it records.

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