BRT Apartments Corp Acquires Multifamily Property In Katy For $68M
SOLD
$68,000,000
Texas
See Similar DealsMultiFamily
Sold 05/11/2022
SOLD
BRT Apartments Corp Acquires Multifamily Property In Katy For $68M
3306 South Fry Road, Katy
See Similar DealsMultiFamily
Sold 05/11/2022
Summary
TEXAS
Asset Type:MultiFamily
Transaction Type:Sale
The multifamily property located at 3306 South Fry Road in Katy was recently sold for a total price of $68,000,000. The transaction took place on 05/11/2022 and was facilitated by BRT Apartments Corp. The property consists of 268 units, resulting in a price per unit of $253,731.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $68,000,000
- Address: 3306 South Fry Road
- Market: Katy
- Seller: BRT Apartments Corp - Jeffrey A. Gould
- Units: 268
- Price Per Unit (PPU): $253,731
The sale of this multifamily property was handled by Jeffrey A. Gould, representing BRT Apartments Corp. His expertise and negotiation skills played a crucial role in closing the deal successfully.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,626,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$241,589.64
Cash-on-Cash Return-1.27%
Monthly Debt Service$322,354.69
Annual Debt Service$3,868,256.30
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