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Kings Capital Secures Acquisition Loan For Multifamily Property In Houston, TX
FINANCEDMultiFamily

Kings Capital Secures Acquisition Loan For Multifamily Property In Houston, TX

Building Size

Asset Type

MultiFamily

Closing

Sep 1, 2023

AI

Located in Houston, TX, this multifamily property recently underwent an acquisition transaction. The property was acquired by Kings Capital, represented by Richard Wheeler, George Giannopoulos, and Jeff Znaty. The deal was facilitated by Jake Lapidot of Cooper Horowitz. Although no additional details about the property itself were provided, this transaction marks a significant milestone for Kings Capital in expanding their multifamily portfolio in Houston.

Summary of transaction details:

This acquisition demonstrates the continued growth strategy of Kings Capital in the Houston market. With the expertise and guidance of Jake Lapidot as their broker, Kings Capital successfully expanded their multifamily holdings. The transaction showcases the confidence and investment potential in the Houston multifamily sector, as well as the strong collaboration between Kings Capital and Jake Lapidot.

Players

Jake Lapidot

Institutional Property Advisors

Broker

$298.5M

vol

19 deals

Broker
Jeffrey Znaty

Jeffrey Znaty

Kings Capital

Landlord

$118.3M

vol

20 deals

Landlord

Market MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan 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