Updated Dec 20, 2023
Hanover Co & State Farm Insurance Acquires 206-Unit Apartment In Houston With JLL As The Broker
5122 Morningside Dr, Houston, TX 77005, USA
Building Size
2,060 SF
Asset Type
MultiFamily
Closing
Aug 20, 2020
About this deal
AI
The apartment property located at 5122 Morningside Drive in Houston has recently undergone a closed transaction. The property features 206 units and is owned by Hanover Co and State Farm Insurance. The transaction was facilitated by JLL, with Cortney Cole and Dustin Selzer representing the brokerage.
Summary of transaction details
- Property Type: Apartment
- Transaction Amount: N/A
- Address: 5122 Morningside Drive
- Market: Houston
- Units: 206
- Borrower: Hanover Co & State Farm Insurance
- Broker: Cortney Cole & Dustin Selzer - JLL
This transaction showcases the collaboration between Hanover Co and State Farm Insurance as they acquire the apartment property at 5122 Morningside Drive in Houston. JLL, represented by Cortney Cole and Dustin Selzer, facilitated the deal, ensuring a successful transaction.
On the Map
MultiFamily
View full map
Players
Houston MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Deal FAQ
Browse Texas multifamily loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93