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Cherokee Drive, Katy, TX, USA

ALTO Real Estate Funds And Investment & Development Ventures Acquire 11.7 Acres Of Land In Katy
SOLDDevelopment Site

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

Holden Rushing

NAI Global

Broker

6 deals

Broker
SL
Stratford LandSeller

Katy Development Site Market Snapshot

Boundary boundary · Development Site · 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