Sovereign at the Ball Park Construction Recommences with $49M Loan

ACRES Capital Corp. originated a $49-million construction loan to fund completion of Sovereign at the Ballpark, a 229-unit multifamily development at 101 Crawford St. in downtown Houston. The 18-month term loan was issued to sponsor Russ Krivor, who is with Sovereign Properties.

According to local media, construction on the project, originally known as Regalia at the Park, halted in the middle of 2019, due to a disagreement among the development’s partners. Sovereign Properties has taken control of the project with the new loan, which also refinances a construction loan issued in 2018. Construction is anticipated to take 12 to 14 months to complete.

Sovereign at the Ballpark encompasses six stories over a two-level, concrete parking structure, with amenities including a swimming pool, fitness center, game room, golf simulator, clubhouse, coffee bar and barbecue grills.

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