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2401 S Gessner Rd, Houston,...

RREAF Holdings Acquires Multifamily Assets In Houston & Katy With Sueba USA As Seller
SOLDMultiFamily

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

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.

Players

Chip Nash

Colliers

Broker

21 deals

Broker

Kip Sowden

RREAF Holdings

Buyer

$364.4M

vol

5 deals

Buyer
SU
Sueba USASeller

Houston 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