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13328 Westheimer Road, Hous...

Updated Sep 9, 2024

Meridian Capital Group Represents Acquisition Of Multifamily Property On Westheimer Rd In Houston
FINANCEDMultiFamily

Meridian Capital Group Represents Acquisition Of Multifamily Property On Westheimer Rd In Houston

13328 Westheimer Road, Houston, TX 77077, USA

$38,188,000

$136/SF

Building Size

280,344 SF

Asset Type

MultiFamily

Closing

Aug 27, 2021

About this deal

AI

The multifamily property located at 13328 Westheimer Rd in Houston was recently involved in a loan transaction. The property consists of 300 units with a total square footage of 280,344.

Summary of transaction details

The loan amount for this transaction was $38,188,000. The loan provided bridge financing with an 80% loan-to-cost ratio. The loan term was structured as 3+1+1, with the first three years having 3.4% interest-only payments.

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$38,188,000

$136/SF

MultiFamily

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Players

Jonathan Zilber

Walker & Dunlop

Broker

$1.1B

vol

22 deals

Broker
Limekiln Real Estate
Limekiln Real EstateLender

Ian Djuric

Landlord

$84.4M

vol

2 deals

Landlord
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Houston MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

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Deal FAQ

About $136 per square foot on a published $38.2M for 280,344 square feet (2021).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.42%

Cash-on-Cash

-0.12%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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