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Century Communities Acquire...

Century Communities Acquires 46 Acres In La Marque, Texas From Local Investor
SOLDLand

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:

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

James Kadlick

Colliers

Broker

17 deals

Broker

Market Land Market Snapshot

Boundary boundary · Land · 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