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21550 Provincial Boulevard,...

Knightvest Capital Acquires 369-Unit Multifamily Property In Katy From Preferred Apartment Communities
SOLDMultiFamily

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

Walker & Dunlop
Walker & DunlopBrokerage
Knightvest Capital
Knightvest CapitalBuyer

Katy 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