Updated Jan 19, 2026
Rick And Mark Fogelman Of Fogelman Properties Acquire 301-Unit Inkwell Greenhouse In Katy Texas
2218 Greenhouse Road
Units
301
Asset Type
MultiFamily
Closing
Jan 15, 2026
About this deal
AI
The transaction involves Inkwell Greenhouse, a 301-unit multifamily apartment community located at 2218 Greenhouse Road in Houston. This property was built in 2018 and currently has a 91% occupancy rate.
Summary of transation details:
- Property Type: MultiFamily
- Transaction Amount: Not disclosed
- Units: 301
- Address: 2218 Greenhouse Road
- Market: Houston
Rick Fogelman and Mark Fogelman, representing Fogelman Properties, are the buyers in this transaction. Fogelman Properties plans to implement a rebrand and initiate property upgrades to enhance resident amenities and support local growth.
Players
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