Updated Oct 28, 2024
Three Pillars Capital Group Acquires Multifamily Property In Houston With Jim Hurd As The Broker
10909 Gulf Freeway, Houston, Texas 77034, United States
Building Size
419,316 SF
Asset Type
MultiFamily
Closing
Jul 10, 2022
About this deal
AI
An apartment complex comprising 544 units spanning over 419,316 square feet was recently sold in Houston's real estate market. The property, located at 10909 Gulf Fwy, was successfully transacted on 07/11/2022. The multifamily asset was acquired under the ownership of Three Pillars Capital Group, with Gautam Goyal representing the buyer. On the other hand, First Choice Management acted as the seller in this transaction. Jim Hurd, from Houston Income Properties, served as the broker facilitating the deal.
Summary of Transaction Details
- Property Type: Multifamily
- Transaction Amount: Not disclosed
- Units: 544
- Square Footage: 419,316
- Market: Houston
The involvement of Three Pillars Capital Group and Gautam Goyal highlights the presence of experienced individuals and investment firms in the property market. First Choice Management's decision to sell the apartment complex further emphasizes their strategic goals. Jim Hurd, representing Houston Income Properties, played a vital role in facilitating the successful transaction between the buyer and seller.
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