Updated Aug 7, 2025
Cortland Acquires 444-Unit Wynnewood At Wortham Community In Houston
10225 Wortham Boulevard
Units
444
Asset Type
MultiFamily
Closing
Aug 6, 2025
About this deal
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.
On the Map
MultiFamily
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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