Lloyd Jones & Christopher Finlay Acquire Multifamily Property In Katy For $49.1M
21919 Clay Road, Katy, Texas 77449, United States
$49,140,000
Building Size
—
Asset Type
MultiFamily
Closing
Jun 6, 2022
AI
A multifamily property located at 21919 Clay Rd in Katy has been involved in a closed transaction. The property consists of 351 units and is situated in the Katy market. The transaction took place on 06/07/2022.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $49,140,000
- Loan Type: Bridge Loan
- Loan Terms: 36-month term with two 12-month extension options
The landlord of the property is Lloyd Jones, represented by Christopher Finlay. The broker involved in the transaction is Richard Kourbage from Greystone. Richard Kourbage facilitated the loan for the transaction.
Players
Katy 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
0.32%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93