SRJ Real Estate Investments Acquires Multifamily Property In Friendswood For $50.7M With Loan From Natixis
19100 Glenwest Drive, Houston, Texas 77546, United States
$50,700,000
$178/SF
Building Size
283,568 SF
Asset Type
MultiFamily
Closing
Jun 9, 2022
AI
The multifamily property located at 19100 Glenwest Dr in Friendswood has been involved in a recent closed transaction. The property consists of 322 units and is situated in the Friendswood market.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $50,700,000
- Date: 06/10/2022
- Address: 19100 Glenwest Dr
- Market: Friendswood
- Units: 322
- Lender: natixis''>Natixis
- Landlord: SRJ Real Estate Investments
- Brokers: Tucker Knight & Carl Rasmussen - Berkadia
- Loan Type: Acquisition Loan
Tucker Knight & Carl Rasmussen from Berkadia represented the buyers in this transaction. The loan, provided by Natixis, amounted to $50,700,000 and was an acquisition loan for the property.
Players
Houston MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.31%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93