Knightvest Capital Acquires Vineyards In Katy, Texas Mixed-Use Sale
21550 Provincial BLVD, Katy, TX, 77450
Building Size
—
Asset Type
Mixed-use
Closing
Nov 22, 2023
AI
The Vineyards is a 369-unit value-add apartment community located at 21550 Provincial BLVD, Katy, TX, 77450. Built in 2003, it offers one-, two- and three-bedroom units along with amenities like a fitness center, business center, and a playground.
Summary of transation details:
- Property Type: Mixed-use
- Transaction Amount: Not provided
- Market: Katy
- Seller's Representative: Ryan Epstein (Walker & Dunlop), Scott Bray (CBRE)
- Buyer: Knightvest Capital
Atlanta-based Preferred Apartment Communities was represented by Scott Bray, Ryan Epstein, and Jennifer Ray of Walker & Dunlop in the sale of Vineyards. The buyer, Knightvest Capital, is an investment firm with offices in Dallas, Houston, Phoenix, and Raleigh.
Players
Katy Mixed-use Market Snapshot
Boundary boundary · Mixed-use · 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