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2345 Sage Rd, Houston, TX, ...

Updated Oct 29, 2024

Cadre Acquires Property From Sueba USA At 2345 Sage Rd Houston
SOLDMultiFamily

Cadre Acquires Property From Sueba USA At 2345 Sage Rd Houston

2345 Sage Rd, Houston, TX, 77056

Units

346

Asset Type

MultiFamily

Closing

Nov 19, 2023

About this deal

AI

The Montierra is a 346-unit apartment community located at 2345 Sage Rd, Houston, TX, 77056 in the Houston market. Developed by Sueba USA in 2003, the property features one-, two-, and three-bedroom floor plans. Amenities at The Montierra include a pool, fitness center, clubhouse, lounge, movie theater, business center, and outdoor grilling stations.

Summary of transaction details:

  • Property Type: Apartment Community
  • Transaction Amount: Not disclosed
  • Address: 2345 Sage Rd, Houston, TX, 77056
  • Market: Houston
  • Seller: Sueba USA
  • Buyer: Cadre
  • Seller's Representative: Dustin Selzer

Dustin Selzer of JLL represented the seller, while Brandon Smith, Annie Rice, and Jamie Kline, also with JLL, arranged acquisition financing through California Bank & Trust. The partnership between Bascom Group and Cadre plans to implement a value-add program for the property.

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Players

Dustin Selzer

Broker

$2.5B

vol

10 deals

Broker
C
CadreBuyer
SU
Sueba USASeller
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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

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