Paul Coonrod's Pagewood Acquires 152-Unit Multifamily Property In Houston With Amegy Bank Financing
14150 Tomball Parkway
Building Size
—
Asset Type
MultiFamily
Closing
Jan 10, 2024
AI
Houston developer Pagewood has purchased the 152-unit Costa Mesa apartment complex in northwest Houston. The property, located at 14150 Tomball Parkway, underwent a value-add program after the acquisition. The seller and sales price have not been disclosed.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: Not disclosed
- Units: 152
- Address: 14150 Tomball Parkway
- Market: Houston
Pagewood, represented by Paul Coonrod from the agency Pagewood, acquired the property with acquisition financing from Amegy Bank.
Players
Houston MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
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