Updated Mar 11, 2025
Civicap Partners Acquires Multifamily Property In Houston For $61.7M
2350 Bagby Street
$61,700,000
Units
419
Asset Type
MultiFamily
Closing
Sep 28, 2022
About this deal
AI
The multifamily property located at 2350 Bagby St. in Houston has recently been involved in a closed transaction. The property spans across 5 acres and consists of 419 units. The transaction took place on 09/28/2022.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $61,700,000
- Address: 2350 Bagby St.
- Market: Houston
- Units: 419
- Acres: 5
Civicap Partners acted as the landlord in the transaction, while AllianceBernstein and Merion Realty Partners were the sellers. Newmark served as the broker in the deal.
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
0.26%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93