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23400 Kingsland Boulevard

Eaton Vance Real Estate Investment Group Acquires 360-Unit Multifamily Property In Katy From Joe Lubeck
SOLDMultiFamily

Eaton Vance Real Estate Investment Group Acquires 360-Unit Multifamily Property In Katy From Joe Lubeck

23400 Kingsland Boulevard

Building Size

Asset Type

MultiFamily

Closing

Mar 9, 2026

AI

This multifamily property transaction involves 360 units located at 23400 Kingsland Boulevard in the Katy market. Eaton Vance Real Estate Investment Group purchased the asset from Electra America, facilitating the transaction with a Fannie Mae loan from Walker & Dunlop.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $40 million
  • Address: 23400 Kingsland Boulevard
  • Market: Katy
  • Buyer: Eaton Vance Real Estate Investment Group
  • Seller: Joe Lubeck - Electra America
  • Lender: Walker & Dunlop
  • Units: 360

Joe Lubeck represented Electra America in the sale of the property, while Walker & Dunlop played a key role in financing the acquisition. This transaction highlights the involvement of multiple stakeholders in executing the deal successfully.

Players

EG
Eaton Vance Real Estate Investment GroupBuyer

Joe Lubeck

Electrica America

Seller

$563M

vol

11 deals

Seller

Katy 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