Resia Acquires 573-Unit Multifamily Property In Houston With $96.5M Construction Loan
18036 Park Row Drive Houston, TX 77084
$96,500,000
Building Size
—
Asset Type
MultiFamily
Closing
Apr 17, 2023
AI
The multifamily property located at 18036 Park Row Dr in Houston is the subject of a recent closed transaction. The property consists of 573 units and is part of the Houston market.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $96,500,000
- Lender: Valley Bank, Santander, and Artemis Real Estate Partners
- Landlord: Resia - Carlos Gonzales
- Loan Type: Construction Loan
In this transaction, Valley Bank, along with Santander and Artemis Real Estate Partners, provided a construction loan of $96,500,000 for the property. The landlord, Resia, represented by Carlos Gonzales, was involved in the deal as well.
Players
Houston MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.16%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93