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Sale · MultiFamily

Updated Oct 29, 2024

Kings Capital And Better World Properties Acquire Galleria Multifamily In Houston
SOLDMultiFamily

Kings Capital And Better World Properties Acquire Galleria Multifamily In Houston

Units

120

Asset Type

MultiFamily

Closing

Aug 31, 2023

About this deal

AI

Recently, a multifamily property transaction took place in Houston, Texas. The property, consisting of 120 units, was sold by Galleria Holdings, represented by Jill Bentley. The buyers, Kings Capital and Better World Properties, were represented by Terri Clifton, George Giannopoulos, Jeff Znaty, Richard Wheeler, and Michael Knight. This acquisition marks Kings Capital's second investment in the Houston market, as they aim to expand their presence both in the area and throughout the Sunbelt region.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: Not specified
  • Units: 120
  • Market: Houston, TX
  • Buyers: Kings Capital - Terri Clifton, George Giannopoulos, Jeff Znaty, Richard Wheeler, and Michael Knight; Better World Properties - Michael Knight
  • Seller: Galleria Holdings - Jill Bentley

It is worth noting that Kings Capital is actively seeking opportunities to further expand their portfolio in the Houston market and the broader Sunbelt region. You can contact them at [email protected] if you have any potential investment opportunities.

Players

Market MultiFamily Market Snapshot

Boundary boundary · MultiFamily · 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

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