Buyer Acquires Property In Conroe Texas With Gregory Austin Of Marcus & Millichap As The Broker
3400 N Loop 336 W, Conroe, TX, 77304
Building Size
—
Asset Type
MultiFamily
Closing
Nov 20, 2023
AI
The Loop Apartments is a 188-unit multifamily community located at 3400 N Loop 336 W, Conroe, TX, 77304. Built in 2017, the property features one-, two-, and three-bedroom units along with amenities such as a pool, fitness center, outdoor entertainment area, and a dog park.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: Undisclosed
- Square Footage: 0
- Market: Conroe
- Buyer: Undisclosed
- Seller: Apartment Advisors Inc.
- Brokers: Gregory Austin - Marcus & Millichap
- Financing arranged by: Tim Leonhard, Mary Davis, Eric Hightower of JLL
Greg Austin, Chip Nash, Bob Heard, Chris Curry, Todd Marix, Chris Young, Joey Rippel, and Kyle Whitney of JLL represented the seller, Apartment Advisors Inc., in the transaction. The financing was arranged through Fannie Mae for the undisclosed buyer.
Players
Conroe 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