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5606 Bissonnet St, Houston,...

Indus Management Group Acquires Property At 5606 Bissonnet St Houston With Seller's Reps Bailey Crowell Chris Young Joey Rippel
SOLDMultiFamily

Indus Management Group Acquires Property At 5606 Bissonnet St Houston With Seller's Reps Bailey Crowell Chris Young Joey Rippel

5606 Bissonnet St, Houston, TX, 77081

Building Size

Asset Type

MultiFamily

Closing

Oct 7, 2019

AI

The property asset involved in the transaction is a 144-unit multifamily property located at 5606 Bissonnet St, Houston, TX, 77081, within the Houston market. The property was built in 1970 and includes features such as a pool with a lounge area, six landscaped courtyards with seating, onsite laundry facilities, and covered parking.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: Not disclosed
  • Address: 5606 Bissonnet St, Houston, TX, 77081
  • Market: Houston
  • Buyer: Indus Management Group
  • Seller: AK Interests
  • Seller's Representatives: Bailey Crowell (JLL), Chris Young (Compass), Joey Rippel (Berkadia)

Joey Rippel, Chris Young, and Bailey Crowell were instrumental in representing the seller, AK Interests, throughout the transaction. The buyer, Indus Management Group, has plans to rebrand the community as The Atrium at 5606 and will implement a value-add program.

Players

Joey Rippel

Berkadia

Broker

35 deals

Broker
IG
Indus Management GroupBuyer

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