Howard Cohen Of Blue Atlantic Partners Purchases 299-Unit Montecito Apartments In Houston
2300 Mccue Road
Building Size
—
Asset Type
MultiFamily
Closing
Oct 9, 2025
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.
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