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13411 Briar Forest Drive, H...

Bridge Partners Acquires 354-Unit Multifamily Property In Houston From RPM Living
SOLDMultiFamily

Bridge Partners Acquires 354-Unit Multifamily Property In Houston From RPM Living

13411 Briar Forest Drive, Houston, Texas 77077, United States

Building Size

Asset Type

MultiFamily

Closing

Apr 6, 2022

AI

Bridge Partners has acquired a multifamily property located at 13411 Briar Forest Drive in Houston. The property consists of 354 units and was sold by RPM Living. The transaction, which took place on 04/07/2022, was facilitated by brokers Chris Curry, Todd Marix, Jeffrey Skipworth, Chris Young, Joey Rippel, and Kyle Whitney from Berkadia. Clay Akiwenzie from Berkadia served as the mortgage broker for the deal.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: Not available

The acquisition of the property on 13411 Briar Forest Drive in Houston was completed by Bridge Partners. The sellers, RPM Living, facilitated the transaction with the assistance of brokers Chris Curry, Todd Marix, Jeffrey Skipworth, Chris Young, Joey Rippel, and Kyle Whitney from Berkadia. Clay Akiwenzie from Berkadia served as the mortgage broker.

Players

Chris Curry

Berkadia

Broker

30 deals

Broker
BP
Bridge PartnersBuyer

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