Century Communities Acquires 46 Acres In La Marque, Texas From Local Investor
Building Size
—
Asset Type
Land
Closing
May 14, 2024
AI
An approximately 46 undeveloped acres of land located on Main Street in La Marque, Texas, was recently sold to Century Communities for the development of a single-family subdivision. The seller, a local investor, took advantage of Houston's undersupplied lot market and robust population growth to secure this transaction.
Summary of transation details:
- Property Type: Land
- Transaction Amount: Not specified
- Address: Main Street
- Market: La Marque
- Asset Type: Land
- Acres: 46
- Buyer: Century Communities
- Seller's Representatives: Chris Hutcheson, Harrison Kane & James Kadlick
- Brokerage: Colliers International
Colliers International played a key role in facilitating the sale of the undeveloped acres. The presence of Harrison Kane, Chris Hutcheson, and James Kadlick as the brokers representing the local investor seller highlights the expertise and strategic approach taken in the transaction. The interest from builders in acquiring land for new subdivisions in the Greater Houston area further showcases the potential for development in the region.
Players
Market Land Market Snapshot
Boundary boundary · Land · 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