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:
- Property Type: Multifamily
- Transaction Type: Acquisition
- Landlord: Kings Capital - Richard Wheeler, George Giannopoulos, & Jeff Znaty
- Broker: Jake Lapidot - Cooper Horowitz
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
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