Updated Oct 29, 2024
Envolve Communities LLC Secures $150M Loan For Multifamily Properties In Houston, Bartlesville, Duncanville, And Round Rock
8811 Boone Road, Houston, Texas 77099, United States
$150,000,000
$195,312/SF
Building Size
768 SF
Asset Type
MultiFamily
Closing
May 1, 2023
About this deal
AI
The multifamily property located at 8811 Boone Road, 1441 S Santa Fe Ave, 700 W Center St, and 1401 A W Grimes Blvd has been involved in a closed transaction. The property spans approximately 768 square feet and is located in Houston, Bartlesville Oklahama, Duncanville, and Round Rock.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $150,000,000
- Loan Terms: 5-year adjustable-rate loan with two 12-month extension options and full-term interest only periods
The lender for this transaction was Freddie Mac, and the landlord of the property is Envolve Communities LLC. The broker representing the deal was Jon Killough from Bellwether Enterprise Real Estate Capital.
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
0.11%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93