Updated Oct 28, 2024
Rockstar Capital Secures $35M Loan For Multifamily Acquisition In Houston With Lender Capital One
3131 West Bellfort Avenue, Houston, TX, USA
$35,040,000
$28,557/SF
Building Size
1,227 SF
Asset Type
MultiFamily
Closing
Aug 1, 2021
About this deal
AI
Rockstar Capital has completed the acquisition of a multifamily property located at 3131 W Belfort Ave in Houston. The property was acquired with the assistance of a loan from Capital One.
Summary of transaction details:
- Property Type: Multifamily Acquisition
- Transaction Amount: $35,040,000
- Address: 3131 W Belfort Ave, Houston
- Lender: Capital One
Hannah Howard and Jonathan Zilber of Meridian Capital Group represented Rockstar Capital in the loan transaction.
The loan amount of $35,040,000 was secured with a 77% loan-to-value (LTV) ratio on a Class A property. The loan has a term of 10 years, with the first 5 years being interest-only. The interest rate for the loan is 2.74%. It is important to note that the loan is non-recourse, providing Rockstar Capital with additional financial security.
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
0.45%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93