Sade Picks Up Houston Multifamily With Boost From Israel Bank

Israeli developer Sade Real Estate secured $166 million in financing to purchase a luxury apartment complex in Houston’s River Oaks.

Sade, which is listed on the Tel Aviv Stock Exchange and has an office in Houston, borrowed $128 million from Stamford, Connecticut-based Hudson Bay Capital to purchase 2929 Weslayan, which will be rebranded as The Arno, deed records show. Walker & Dunlop arranged the financing.

Sade also secured $37.8 million in Israeli bonds, according to deed documents. Tel Aviv-based Reznik Paz Nevo Trusts is the bond trustee for the transaction. The Israeli bond market has become an increasingly popular source of funding for real estate investors looking for cheaper capital. Doing so allows firms to raise debt for properties without a mortgage and obtain favorable and lower interest rates.

The property was last valued at $118.9 million, according to appraisal district records, but it’s likely worth more, since Texas appraisals tend to undervalue commercial real estate.

The 40-story apartment complex, at 2929 Weslayan Street, is at the doorstep of Houston’s prestigious River Oaks neighborhood. Built in 2014 by PM Realty Group (now Madison Marquette), the property fetches rents up to $13,000 per month for its penthouse units, according to the Houston Association of Realtors. Amenities include an outdoor tenant lounge, pool, gym, conference center and dog park.

There’s some confusion around the size of the property. Walker & Dunlop said the property has 168 units. Other sources, including the Houston Association of Realtors, describe the building as having 254 units. The total financing works out to $988,000 per unit for 168 units and $654,000 per unit for 254 units. High-end apartment communities have proven popular in luxury enclaves like River Oaks. The city’s top sales of 2025 exemplify the neighborhood’s supremacy; five of the top 10 sales were located within one square mile of each other in River Oaks. The enclave will soon be home to The RO, a luxury mixed-use development anchored by an Auberge Collection hotel and condo building, The Birdsall.