FINANCEDMultiFamily
Olive Tree Holdings Acquires Multifamily Property In Houston With $12.2M Loan From PGIM. Brokers Cooper Ramsey & Peter Stobierski - TrueRate Services
8625 Winkler Drive, Houston, TX 77017, USA
$12,200,000
$15,006/SF
Building Size
813 SF
Asset Type
MultiFamily
Closing
Jul 28, 2020
AI
Olive Tree Holdings has acquired a multifamily property located at 8625 Winkler Dr in Houston. The acquisition was financed by a loan from PGIM in the amount of $12,200,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $12,200,000
- Market: Houston
- Landlord: Olive Tree Holdings
- Lender: PGIM
- Brokers: Cooper Ramsey & Peter Stobierski - TrueRate Services
Cooper Ramsey and Peter Stobierski from TrueRate Services represented the buyer and seller, respectively, in the acquisition deal.
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
1.30%
Cash-on-Cash
-0.37%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93