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10909 Gulf Freeway, Houston...

Updated Oct 28, 2024

Three Pillars Capital Group Acquires Multifamily Property In Houston With Jim Hurd As The Broker
SOLDMultiFamily

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.

Players

Jim Hurd

Broker

1 deal

Broker

Gautam Goyal

Three Pillars Capital Group

Buyer

$46M

vol

3 deals

Buyer

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

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