Updated Sep 9, 2024
Marcus & Millichap Facilitates $10.5M Refinance Loan For Houston Multifamily
7245 Hillcroft Ave Houston, TX 77081, USA
$10,500,000
$59/SF
Building Size
177,214 SF
Asset Type
MultiFamily
Closing
May 3, 2023
About this deal
AI
The property involved in this transaction is located at 7245 Hillcroft Avenue in Houston. It is a multifamily asset with 206 units and a total area of 177,214 square feet.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $10,500,000
- Loan Type: Refinance
- Loan Terms: 6.25%, 12 months IO, 25 year amortization, no prepayment penalty
The brokers involved in this deal are Adam Pike and Brad Korndorffer from Marcus & Millichap. They represented the parties in this transaction.
The multifamily loan at 7245 Hillcroft Ave Houston, TX 77081, USA in Texas, Texas financed for $10.5M in 2023. Reported inventory is 177,214 square feet across 206 units, or about 59 per square foot. Adam Pike, Brad Korndorffer, Marcus & Millichap appear on the loan alongside Marcus & Millichap. This page is the Texas, Texas file for the 7245 Hillcroft Ave Houston, TX 77081, USA multifamily financed: pricing, party profiles, and other closed multifamily comps from the same Texas sit in the Market section below. Filter that Texas multifamily set by closing date to see what else financed near 7245 Hillcroft Ave Houston, TX 77081, USA around 2023. Published consideration for 7245 Hillcroft Ave Houston, TX 77081, USA is $10.5M, dated 2023. Cite this Marcus & Millichap Facilitates $10.5M Refinance Loan For Houston Multifamily loan when underwriting similar multifamily product around Texas, Texas.
Players
Texas MultiFamily Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.51%
Cash-on-Cash
-0.43%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93