Salon Freedom Holdings Acquires 9 Sola Salons In Houston, TX
Building Size
—
Asset Type
Retail
Closing
Aug 14, 2023
About this deal
AI
Salon Freedom Holdings, the largest operator of franchised Sola Salons, has acquired 9 Sola locations in Houston, Texas. This strategic move expands their operations from Pennsylvania, New Jersey, and Tennessee to Texas, strengthening their presence in diverse markets. The acquisition provides new opportunities for beauty and wellness professionals to establish their businesses in Houston, Katy, Sugar Land, Pasadena, and Clear Lake.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: Not specified
The acquisition was made by Salon Freedom Holdings, LLC, led by David Raduziner, Todd Recknagel, Jordan Levine, and Christina Russell. With this expansion, the company aims to provide a platform for beauty and wellness professionals in the franchised Sola Salons to run their businesses in the thriving Texas market. Salon Freedom Holdings now operates a total of 9 Sola locations in Houston.
Players
Market Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93