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300 Cyberonics Boulevard

Colliers Sells Clear Lake Apartments In Multifamily Deal
SOLDMultiFamily

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

Chip Nash

Colliers

Broker

21 deals

Broker

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