Smith Douglas Homes Acquires Development Site From Red Hill Ventures In Magnolia
Fm 1488 And Mill Creek Road
Building Size
2,613,600 SF
Asset Type
Development Site
Closing
Oct 15, 2025
AI
The transaction involves a development site located at Fm 1488 & Mill Creek Road in Magnolia, encompassing a total area of 2,613,600 square feet. The sale was finalized on October 16, 2025, between Smith Douglas Homes as the buyer and Red Hill Ventures as the seller.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: N/A
- Address: Fm 1488 & Mill Creek Road
- Market: Magnolia
- Asset Size: 2,613,600 SF
- Buyer: Smith Douglas Homes
- Seller: Red Hill Ventures
- Broker: Diana Gaines - SVN | J. Beard Real Estate
The deal was facilitated by broker Diana Gaines, who represents SVN | J. Beard Real Estate, overseeing the transaction between the buyer and seller. The involvement of experienced representation is notable in this significant real estate deal.
Players
Magnolia 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