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525 West 24th Street

Updated Aug 28, 2026

Bilt advertisement
Francis Property Management Secures $68.7 Million Refinance For 940 Units In Houston And San Antonio
FINANCEDMultiFamily

Francis Property Management Secures $68.7 Million Refinance For 940 Units In Houston And San Antonio

525 West 24th Street, 13330 West Road & 215 North Loop 1604 East

$68,700,000

Units

940

Asset Type

MultiFamily

Closing

Aug 11, 2026

About this deal

AI

Francis Property Management secured permanent refinancing for three Class A multifamily communities totaling 940 units. The properties are located at 525 West 24th Street, 13330 West Road, and 215 North Loop 1604 East in the Houston and San Antonio markets. The refinancing amounted to $68,700,000, featuring a 10-year term with full-term interest-only payments.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $68,700,000
  • Units: 940
  • Landlord: Francis Property Management
  • Market: Houston & San Antonio, TX
  • Loan Type: Refinance
  • Loan Terms: 10-year term with full-term interest-only payments

NorthMarq’s Taylor Francis, David Blum, Joe Giordani, Charlie Buckingham, and Matt Radich arranged the financing for the transaction. Each team member played a key role in facilitating the loan, which was specifically aimed at securing permanent financing for the multifamily communities managed by Francis Property Management.

Players

Joe Giordani

NorthMarq

Broker

$1B

vol

16 deals

Broker
Francis Property Management
Francis Property ManagementLandlord

Houston MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

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Deal FAQ

About $73.1K per unit across 940 units on a published $68.7M (2026).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.23%

Cash-on-Cash

-0.07%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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