Dustin Miles' Momentum Multifamily Acquires 296-Unit Multifamily Property In Humble, Texas With Financing From Timbercreek Capital Arranged By Taylor Coy
14100 Will Clayton Parkway
Units
296
Asset Type
MultiFamily
Closing
Jan 9, 2024
AI
The Henry at Lake Houston, a 296-unit apartment community located at 14100 Will Clayton Parkway in Humble, Texas, has been acquired by Momentum Multifamily. The property, previously known as The Cobalt at Lake Houston, offers upscale residences and a range of amenities. The transaction took place with financing from Timbercreek Capital, which was arranged by JLL's Taylor Coy.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: Not provided
- Address: 14100 Will Clayton Parkway, Humble, Texas
- Market: Humble
Dustin Miles from Momentum Multifamily acted as the buyer in this transaction. The financing was secured through Timbercreek Capital, with Taylor Coy from JLL serving as the mortgage broker.
Players
Humble 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