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17807 Lakecrest View Drive,...

Bascom Group Acquires Cypress Multifamily Property On Lakecrest View Drive
SOLDMultiFamily

Bascom Group Acquires Cypress Multifamily Property On Lakecrest View Drive

17807 Lakecrest View Drive, Cypress, TX, USA

Building Size

1,076 SF

Asset Type

MultiFamily

Closing

Feb 14, 2021

AI

The Bascom Group has acquired a multifamily property located at 17807 Lakecrest View Drive in Cypress. The transaction took place on February 15, 2021. The property consists of 350 units and spans across 13 acres.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Date: 02/15/2021
  • Address: 17807 Lakecrest View Drive, Cypress
  • Market: Cypress
  • Buyer: Bascom Group
  • Brokers: David Mitchell - Newmark, James D’Argenio & Chang Liu - Bascom Group
  • Units: 350
  • Acres: 13

The deal was facilitated by brokers David Mitchell from Newmark and James D’Argenio, along with Chang Liu from Bascom Group.

Players

David Mitchell

Newmark

Broker

$150.3M

vol

10 deals

Broker
BG
Bascom GroupBuyer

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