John Griggs Of Presidium Acquires 186-Unit Multifamily Community On Jester Boulevard In Houston
2424 East T C Jester Boulevard
Building Size
178,094 SF
Asset Type
MultiFamily
Closing
Mar 23, 2026
AI
The property asset involved in this transaction is a multifamily community located at 2424 ETC Jester Boulevard in Houston. The asset comprises 186 units and has a total square footage of 178,094. This property is situated in the vibrant Heights submarket, which is desirable for its proximity to amenities.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: Not specified
- Units: 186
- Square Feet: 178,094
- Address: 2424 ETC Jester Boulevard
- Market: Houston
- Buyer: John Griggs
- Company: Presidium
John Griggs, representing Presidium, has successfully acquired the multifamily community. This acquisition includes plans for renovations aimed at enhancing amenities and interiors of the 2001-built asset. The property is positioned near the White Oak Bayou Greenway Trail, enabling Presidium to target long-term value growth in a high-demand location.
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