Updated May 12, 2025
Venterra Realty Acquires Avasa Spring Branch Multifamily In Houston For $45M
1095 Brittmoore Rd Houston, TX 77043, USA
$45,000,000
Units
361
Asset Type
MultiFamily
Closing
Aug 31, 2023
About this deal
AI
The property asset involved in this transaction is a multifamily residential complex known as Avasa Spring Branch, located at 1095 Brittmoore Road in Houston. This property comprises 361 units and spans across 10 acres. It was acquired for a transaction amount of $45 million and is supported by financing from PNC Bank.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $45,000,000
- Buyer: Venterra Realty
- Buyer Representative: John Foresi
- Seller: D.R. Horton
- Seller Representative: David V. Auld
- Lender: PNC Bank
Notable aspects of the deal include the strategic location of the property near key Houston routes and medical centers, as well as its amenities, which include varied floor plans, fitness centers, and pools. This acquisition highlights Venterra Realty's interest in expanding their portfolio in the Houston market.
On the Map
$45,000,000
MultiFamily
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Players
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
0.35%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93