Knightvest Capital Acquires 369-Unit Multifamily Property In Katy From Preferred Apartment Communities
21550 Provincial Boulevard, Katy, TX 77450, USA
Building Size
7,401,308 SF
Asset Type
MultiFamily
Closing
Sep 21, 2021
AI
Located at 21550 Provincial Blvd in Katy, this multifamily property was recently sold in a closed transaction. The property consists of 369 units, making it an attractive investment opportunity.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: Not disclosed
- Units: 369
- Market: Katy
Knightvest Capital acquired the property from Preferred Apartment Communities. The deal was facilitated by Scott Bray, Ryan Epstein, and Jennifer Ray from Walker & Dunlop, who represented the buyer and seller in the transaction. The specific details of the transaction, such as the sale price and loan amount, were not disclosed.
Players
Katy 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