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
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