Updated Oct 29, 2024
JRK Property Holdings Acquires Multifamily Properties In Houston, TX & St. Louis, MO For $81.5M
11666 Gulf Pointe Drive, Houston, TX, USA
$81,500,000
Building Size
—
Asset Type
MultiFamily
Closing
Feb 1, 2021
About this deal
AI
The multifamily property located at 11666 Gulf Pointe Drive in Houston, TX and 1951 Oberlin Drive in St. Louis, MO has been sold for a total price of $81,500,000. This property was acquired by JRK Property Holdings, represented by Jim Lippman.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $81,500,000
- Address: 11666 Gulf Pointe Drive, Houston, TX & 1951 Oberlin Drive, St. Louis, MO
- Market: Houston, TX & St. Louis, MO
- Buyer: JRK Property Holdings - Jim Lippman
Jim Lippman, representing JRK Property Holdings, played a key role in facilitating this transaction. The acquisition of this multifamily property marks a significant investment for JRK Property Holdings in the Houston and St. Louis markets.
On the Map
$81,500,000
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
0.19%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93