Updated Mar 11, 2025
Strategic Realty Holdings Acquires Multifamily Property In Houston With $6.2M Loan From Electra Capital
2331 Bammelwood Drive, Houston, TX, USA
$6,200,000
Units
488
Asset Type
MultiFamily
Closing
Aug 10, 2021
About this deal
AI
Strategic Realty Holdings, represented by Eddie Lorin, has secured a $6,200,000 loan from Electra Capital, represented by Samuel J. Greenblatt, for the acquisition of a multifamily property in Houston. The property, located at 2331 Bammelwood Drive and 411 Highland Cross Drive, consists of 488 units.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $6,200,000
- Address: 2331 Bammelwood Drive & 411 Highland Cross Drive, Houston
- Units: 488
- Borrower: Strategic Realty Holdings - Eddie Lorin
- Lender: Electra Capital - Samuel J. Greenblatt
Eddie Lorin, with the support of Strategic Realty Holdings, successfully secured the $6,200,000 loan from Samuel J. Greenblatt of Electra Capital. The acquired multifamily property, located in Houston, consists of 488 units and is situated at 2331 Bammelwood Drive and 411 Highland Cross Drive.
On the Map
$6,200,000
MultiFamily
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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
2.56%
Cash-on-Cash
-0.73%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93