Civitas Capital Management II LLC Acquires 288-Unit Multifamily Property In Houston
2500 Greenhouse Road, Houston, TX 77084
Building Size
1,440 SF
Asset Type
MultiFamily
Closing
Aug 6, 2020
AI
The multifamily property located at 2500 Greenhouse Rd in Houston was recently sold in a transaction on August 6, 2021. The property consists of 288 units and is owned by Mayde Creek Apartments LLC. The buyer of the property is Civitas Capital Management II LLC. The sale was facilitated by Marcus & Millichap, with Gregory Austin, Travis Austin, Jennifer Campbell, and Jaleel Adatia representing both the seller and the buyer.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: Not available
- Address: 2500 Greenhouse Rd
- Market: Houston
- Units: 288
The deal involved key individuals such as Gregory Austin, Travis Austin, Jennifer Campbell, and Jaleel Adatia from Marcus & Millichap. They played a crucial role as brokers representing both the seller, Mayde Creek Apartments LLC, and the buyer, Civitas Capital Management II LLC.
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