Updated Oct 28, 2024
Lone Star Capital Acquires 300-unit Multifamily In Houston From Performance Properties
5635 Timber Creek Place Drive, Houston, Texas 77084, United States
Units
300
Asset Type
MultiFamily
Closing
Aug 7, 2022
About this deal
AI
A multifamily property consisting of 300 units located at 5635 Timber Creek Place in Houston has been sold. The transaction took place on 08/08/2022.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: Not specified
- Address: 5635 Timber Creek Place
- Market: Houston
- Buyer: Lone Star Capital
- Seller: Performance Properties
- Brokers: Chris Young, Joey Rippel, Kyle Whitney, Jeffrey Skipworth, Chris Curry & Todd Marix - Berkadia
- Mortgage Broker: Johnny King - Berkadia
The deal was facilitated by Berkadia, with brokers Chris Young, Joey Rippel, Kyle Whitney, Jeffrey Skipworth, Chris Curry, and Todd Marix representing both the buyer and seller. Johnny King served as the mortgage broker.
On the Map
MultiFamily
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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