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7655 Belfort Ave, Houston, ...

Updated Dec 21, 2023

Travis Fite's Houston Multifamily Property Secures $13.4M Refinance Loan
FINANCEDMultiFamily

Travis Fite's Houston Multifamily Property Secures $13.4M Refinance Loan

7655 Belfort Ave, Houston, TX 77061

$13,400,000

Units

142

Asset Type

MultiFamily

Closing

Sep 5, 2022

About this deal

AI

A multifamily property located at 7655 Bellfort Ave in Houston has been the subject of a recent closed transaction. The property consists of 142 units and has been refinanced for a loan amount of $13,400,000. The loan terms for this transaction include a 10-year term with 7 years of interest only, followed by a 30-year amortization period.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $13,400,000
  • Address: 7655 Bellfort Ave, Houston
  • Units: 142

The broker for this transaction was Travis Fite from Northmarq Houston. He represented the parties involved in the deal and facilitated the refinancing process for the multifamily property.

This transaction highlights the continued activity in the Houston market, with investors taking advantage of refinancing options. The terms of the loan provide a period of interest-only payments, followed by a extended amortization period, allowing for flexibility in managing the property's cash flow.

On the Map

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$13,400,000

MultiFamily

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Players

Travis Fite

NorthMarq

Broker

$38.4M

vol

4 deals

Broker
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Houston MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

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Deal FAQ

About $94.4K per unit across 142 units on a published $13.4M (2022).

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Browse Texas multifamily loans on Traded.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.18%

Cash-on-Cash

-0.34%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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