Sentinel Peak Capital Partners Acquires Property At 300 Woerner Rd Houston With Brokers Bob Heard & Chip Nash
300 Woerner Rd, Houston, TX, 77090
Building Size
—
Asset Type
MultiFamily
Closing
Nov 19, 2023
AI
Lakebridge Apartments, located at 300 Woerner Rd, Houston, TX, 77090, is a 272-unit multifamily community situated on 13.2 acres. Originally built in 1984 and expanded in 2001, the property features units with an average size of 896 square feet. The ground-floor residences have undergone recent renovations, and the property offers amenities such as a pool, lake access, clubhouse, fitness center, and 538 covered parking spaces.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: Not disclosed
- Address: 300 Woerner Rd, Houston, TX, 77090
- Market: Houston
- Seller's Representatives: Chris Curry - Berkadia, Chris Young - Compass, Gregory Austin - Marcus & Millichap, Joey Rippel - Berkadia
- Borrower's Representative: Campbell Roche - JLL
- Brokers: Bob Heard - Colliers International, Chip Nash - Colliers International
- Buyer: Sentinel Peak Capital Partners
In this transaction, Campbell Roche and James Brolan of JLL arranged floating-rate acquisition financing through Voya Investment Management on behalf of Sentinel Peak Capital Partners. Several brokers including Chip Nash, Bob Heard, Greg Austin, Chris Young, Joey Rippel, and Chris Curry represented the undisclosed seller in the deal.
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