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2211 Montgomery Park BLVD, ...

Southstar Capital Group Acquires Property In Conroe With Drew Kile And Jennifer Campbell As Reps
SOLDMultiFamily

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:

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

Drew Kile

Institutional Property Advisors

Broker

$383.2M

vol

81 deals

Broker

Conroe 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