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10225 Wortham Boulevard

Cortland Acquires 444-Unit Wynnewood At Wortham Community In Houston
SOLDMultiFamily

Cortland Acquires 444-Unit Wynnewood At Wortham Community In Houston

10225 Wortham Boulevard

Building Size

Asset Type

MultiFamily

Closing

Aug 6, 2025

AI

The property asset involved in this transaction is a 444-unit multi-family community located at 10225 Wortham Boulevard in Houston. The acquisition supports the buyer's growth strategy in Texas, adding significant residential units to their portfolio.

Summary of transaction details:

  • Property Type: MultiFamily
  • Transaction Amount: Not specified
  • Units: 444
  • Address: 10225 Wortham Boulevard
  • Market: Houston
  • Buyer: Steven DeFrancis
  • Buyer Representative: Steven DeFrancis - Cortland

Cortland has acquired Wynnewood at Wortham, marking its third property transaction in the Houston market within the year. The company plans extensive renovations that encompass both interior and exterior upgrades, projected for completion within two years.

Players

Steven DeFrancis

Cortland

Buyer

$1.6B

vol

15 deals

Buyer
Cortland
CortlandBuyer

Houston MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93