Stephen Keller Of Block Companies Secures $8 Million Equity For 82 Townhome Development In Houston
FINANCED
$8,000,000
Texas
See Similar DealsDevelopment Site140,000 SF
Financed 03/25/2025
FINANCED
Stephen Keller Of Block Companies Secures $8 Million Equity For 82 Townhome Development In Houston
6130 Auburn Lakes Drive
See Similar DealsDevelopment Site140,000 SF
Financed 03/25/2025
Summary
TEXAS
Asset Type:Development Site
Price Per Square Foot:$57
Total Square Footage:140,000 SF
Transaction Type:Loan
The property asset involves an 82-unit Build-To-Rent development located at 6130 Auburn Lakes Drive in Houston, TX. This development encompasses a total square footage of 140,000 and represents an equity amount of $8,000,000.
Summary of transaction details:
- Property Type: BTR Development
- Transaction Amount: $8,000,000
- Units: 82 Townhomes
- Square Footage: 140,000
- Address: 6130 Auburn Lakes Drive
- Market: Houston, TX
- Developer: Stephen Keller - Block Companies
- Broker: Simon Goldstein - Buckingham Advisors
Key individuals involved in this transaction include Stephen Keller, representing Block Companies as the developer of the BTR project, and Simon Goldstein from Buckingham Advisors, who acted as the broker in this deal.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$8,000,000.00
Monthly NOI$53,333.33
Monthly Debt Service$50,565.44
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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