ALTO Real Estate Funds And Investment & Development Ventures Acquire 11.7 Acres Of Land In Katy
Cherokee Drive, Katy, TX, USA
Building Size
184,205 SF
Asset Type
Development Site
Closing
Jan 27, 2021
AI
ALTO Real Estate Funds and Investment & Development Ventures (IDV) have acquired an 11.7-acre land in Katy. The property, located at 7737 Cherokee Drive, was sold by Parkside Capital and Stratford Land. The transaction took place on January 28, 2021. John Simons and Holden Rushing from NAI Partners represented the buyers in the deal.
Summary of transaction details:
- Property Type: Land
- Transaction Amount: Not disclosed
- Address: 7737 Cherokee Drive, Katy
- Market: Katy
- Acres: 11.7
This acquisition was made by ALTO Real Estate Funds and IDV, with Mody Kidon representing ALTO Real Estate Funds and Yaniv Melamud representing IDV. The sale was facilitated by brokers John Simons and Holden Rushing from NAI Partners.
Players
Katy Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
Loading comparables…
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