Colliers Sells Clear Lake Apartments In Multifamily Deal
300 Cyberonics Boulevard
Building Size
—
Asset Type
MultiFamily
Closing
Dec 12, 2023
AI
Colliers has announced the sale of Clear Lake Apartments, a 244-unit multifamily community located at 300 Cyberonics Boulevard in Clear Lake, Texas. The property, strategically situated near key amenities including NASA, Spaceport, and the University of Houston-Clear Lake, is a sought-after asset in the thriving Clear Lake rental market.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: Not mentioned
- Number of Units: 244
- Address: 300 Cyberonics Boulevard, Clear Lake, Texas
- Market: Houston
The sale of Clear Lake Apartments was facilitated by Colliers, with Bob Heard, Chip Nash, and Jaleel Adatia representing the seller, WWC and XLI. This transaction represents a significant opportunity for both parties involved, as the property's location and amenities make it an attractive option for renters in the Clear Lake area.
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