Meritage Homes Corp Acquires 14 Acres Of Land In Houston
Northwest of the intersection of State Highway 6 and the Westpark Tollway
Building Size
—
Asset Type
Land
Closing
Jun 15, 2023
About this deal
AI
Meritage Homes Corp, represented by Kyle Davison, has purchased a 14-acre land in west Houston. The property is located northwest of the intersection of State Highway 6 and the Westpark Tollway. The transaction took place on June 15, 2023.
Summary of transaction details:
- Property Type: Land
- Transaction Amount: Not available
- Address: Northwest of the intersection of State Highway 6 and the Westpark Tollway
- Market: Houston
- Buyer: Meritage Homes Corp - Kyle Davison
Meritage Homes Corp is planning to develop a community called McClendon Park Village on the purchased land. The community will consist of 122 detached townhomes, featuring first-floor living spaces, three or four bedrooms, and two-car garages. The homes will be priced from the high $200,000s.
Players
Texas Land Market Snapshot
Boundary boundary · Land · Sale transactions
Loading comparables…
Deal FAQ
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