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6130 Auburn Lakes Drive

Stephen Keller Of Block Companies Secures $8 Million Equity For 82 Townhome Development In Houston
FINANCEDDevelopment Site

Stephen Keller Of Block Companies Secures $8 Million Equity For 82 Townhome Development In Houston

6130 Auburn Lakes Drive

$8,000,000

$57/SF

Building Size

140,000 SF

Asset Type

Development Site

Closing

Mar 25, 2025

AI

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.

Players

Simon Goldstein

Buckingham Advisors

Broker

$71.5M

vol

7 deals

Broker

Spring Development Site Market Snapshot

Boundary boundary · Development Site · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.98%

Cash-on-Cash

-0.57%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93