Madera Residential Acquires Mixed-Use Property In Houston For $86.3M
811 Town and Country Blvd, Houston, TX, USA
$86,300,000
$60,731/SF
Building Size
1,421 SF
Asset Type
Mixed-use
Closing
Feb 10, 2021
About this deal
AI
The mixed-use property at 811 Town and Country Blvd in Houston has recently been involved in a loan transaction. The borrower, Madera Residential, represented by Dave Gilles, secured a loan from PCCP LLC in the amount of $86,300,000. The property consists of 620 units.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $86,300,000
- Units: 620
- Borrower: Madera Residential - Dave Gilles
- Lender: PCCP LLC
This loan transaction showcases the collaboration between Madera Residential, led by Dave Gilles, and PCCP LLC. The deal enables Madera Residential to further develop and manage the mixed-use property at 811 Town and Country Blvd. The loan amount of $86,300,000 will facilitate the necessary investments, ensuring the property's success in the market.
Houston Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
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Deal FAQ
About $60.7K per square foot on a published $86.3M for 1,421 square feet (2021).
Browse Texas mixed use loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.18%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93