Updated Mar 11, 2026
Howard Cohen Of Blue Atlantic Partners Purchases 299-Unit Montecito Apartments In Houston
2300 Mccue Road
Units
299
Asset Type
MultiFamily
Closing
Oct 9, 2025
About this deal
AI
The property involved in this transaction is the Montecito Apartments, a multi-family asset located at 2300 Mccue Road in Houston, Texas. The property contains a total of 299 units and is situated in the Uptown-Galleria market area.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: Not disclosed
- Address: 2300 Mccue Road
- Market: Houston
- Units: 299
- Buyer: Howard Cohen
- Buyer's Company: Blue Atlantic Partners
- Affiliation: Affiliate of Atlantic Pacific Cos.
- Total Texas Properties Owned: 33
- Total Units in Texas: Approximately 7,500
Howard Cohen, representing Blue Atlantic Partners, executed the transaction for the purchase of the Montecito Apartments. The firm intends to undertake a multi-million-dollar renovation of the property following this acquisition.
On the Map
MultiFamily
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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