Mosaic Residential Acquires The Columns At Westchase Apartments In Houston From ECI Group For Substantial Renovations
3354 Rodgerdale Road
Building Size
—
Asset Type
MultiFamily
Closing
Dec 1, 2023
AI
The Columns at Westchase apartments in Houston has been sold by ECI Group to Mosaic Residential. The property, consisting of 318 units, underwent extensive renovations during ECI's ownership, which included upgrades to interiors, exteriors, and amenities.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: Not specified
- Address: 3354 Rodgerdale Road, Houston
- Units: 318
Mosaic Residential, represented by Bob Weber, acquired The Columns at Westchase apartments from ECI Group, represented by Scott Levitt. The transaction was facilitated by David Mitchell of Newmark.
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