Updated Oct 28, 2024
Fowler Property Acquisitions Acquires Multifamily In Houston From Thor Equities
3200 Kirby Drive, Houston, TX 77098
$182,000,000
$3,008/SF
Building Size
60,500 SF
Asset Type
MultiFamily
Closing
Jan 4, 2022
About this deal
AI
Joseph Sitt's multifamily property located at 3200 Kirby Drive in Houston has been sold. The sale took place on January 4, 2022, for a total price of $182,000,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $182,000,000
- Buyer: Fowler Property Acquisitions
- Seller: Thor Equities - Joseph Sitt
- Market: Houston
Fowler Property Acquisitions was the buyer in this transaction, acquiring the multifamily property from Thor Equities, represented by Joseph Sitt. The deal reflects the vibrant real estate market in Houston and underlines the significance of this investment for both the buyer and the seller.
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
0.09%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93