Updated Oct 28, 2024
RREAF Holdings Acquires Multifamily Assets In Houston & Katy With Sueba USA As Seller
2401 S Gessner Rd, Houston, TX, USA
Building Size
1,635 SF
Asset Type
MultiFamily
Closing
Oct 22, 2021
About this deal
AI
The recently closed transaction involves the sale of a multifamily property located at 2401 S Gessner Rd, 15255 Vintage Preserve Pky, and 1502 Partnership Way in Houston and Katy. The property comprises 800 units and was sold on October 22, 2021.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: N/A
- Units: 800
- Address: 2401 S Gessner Rd, 15255 Vintage Preserve Pky, 1502 Partnership Way
- Market: Houston and Katy
The buyer in this transaction is RREAF Holdings, represented by Kip Sowden. The seller is Sueba USA, represented by Klaus Keller. The deal was facilitated by a team of brokers from Colliers, including Todd Stewart, Teresa Lowery, Chip Nash, Bob Heard, Cindy Cooke, Brad Cooke, Matt Roach, and Ron Cameron.
On the Map
MultiFamily
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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