Updated Oct 29, 2024
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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Deal FAQ
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