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2800 Tranquility Lakes Boul...

The Bascom Group Acquires Property At 2800 Tranquility Lake Estates Boulevard With Matthew Phillips As Seller's Representative
SOLDMultiFamily

The Bascom Group Acquires Property At 2800 Tranquility Lake Estates Boulevard With Matthew Phillips As Seller's Representative

2800 Tranquility Lakes Boulevard

Building Size

Asset Type

MultiFamily

Closing

Nov 19, 2023

AI

The property involved in this transaction is located at 2800 Tranquility Lake Estates BLVD, Texas. It includes a multifamily asset that is part of a larger portfolio involving two properties totaling 602 units in the Houston area. The properties were built in 2002 and 2004 and consist of one-, two-, and three-bedroom units.

Summary of transaction details:

This transaction was facilitated by Clint Duncan and Matt Phillips of CBRE, who represented the undisclosed seller. Additionally, Michael Thompson and Travis Fincher of CBRE arranged acquisition financing through a fund backed by Oaktree Capital.

Players

James D’Argenio

The Bascom Group

Broker

4 deals

Broker
TG
The Bascom GroupBuyer

Pearland 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