Southstar Capital Group Acquires Property In Conroe With Drew Kile And Jennifer Campbell As Reps
2211 Montgomery Park BLVD, Conroe...
Building Size
—
Asset Type
MultiFamily
Closing
Nov 19, 2023
AI
The sale involves West Creek Apartment Homes, a 228-unit community located at 2211 Montgomery Park Blvd, Conroe, Texas. This property includes one-, two-, and three-bedroom units along with amenities such as a pool, business center, and a resident clubhouse. The transaction indicates an active market for multifamily properties in the Conroe area, which is situated about 25 miles north of Houston.
Summary of transaction details:
- Property Type: Apartment Community
- Transaction Amount: Not disclosed
- Address: 2211 Montgomery Park Blvd, Conroe, Texas
- Market: Conroe
- Seller's Representative: Will Balthrope, Will Griffin, Drew Kile & Jennifer Campbell - Institutional Property Advisors
- Buyer: Southstar Capital Group
Institutional Property Advisors (IPA), a division of Marcus & Millichap, represented the seller, Partin Real Estate Management, in this transaction. The IPA team not only facilitated the sale but also procured Southstar Capital Group as the buyer, showcasing their expertise in the multifamily property market.
Players
Conroe 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