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300 Woerner Rd, Houston, TX...

Sentinel Peak Capital Partners Acquires Property At 300 Woerner Rd Houston With Brokers Bob Heard & Chip Nash
SOLDMultiFamily

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:

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

Chip Nash

Colliers

Broker

21 deals

Broker
SP
Sentinel Peak Capital PartnersBuyer

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