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24500 Wildwood Park Road

Price Realty Corporation Acquires The Wildwood Apartments In Richmond, Texas
SOLDMultiFamily

Price Realty Corporation Acquires The Wildwood Apartments In Richmond, Texas

24500 Wildwood Park Road

Building Size

Asset Type

MultiFamily

Closing

Sep 14, 2023

AI

The Wildwood Apartments, a 300-unit, Class A multi-housing community located at 24500 Wildwood Park Road in Richmond, Texas, has been sold by JLL Capital Markets. The property is part of the Veranda master-planned community and offers one- and two-bedroom units with various amenities. It provides convenient access to Houston's employment hubs and medical centers.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: Not specified
  • Units: 300
  • Market: Richmond

The buyer of The Wildwood Apartments is Price Realty Corporation, represented by Michael Ochstein. The seller is Allen Harrison Company, represented by Paul Harrison Forbes. Dustin Selzer from JLL acted as the broker in this transaction. Additionally, John Brownlee, also from JLL, assisted in arranging financing for the new owner.

Players

Dustin Selzer

Broker

$2.5B

vol

10 deals

Broker
AC
Allen Harrison CompanySeller

Richmond 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