Updated Oct 29, 2024
REEP Equity Acquires 192-Unit Multifamily Property In Houston
5915 Flintlock Road, Houston, TX, USA
Building Size
1,050 SF
Asset Type
MultiFamily
Closing
Apr 17, 2021
About this deal
AI
REEP Equity, represented by Jacob Garza, Sr. and Arleen Garza, recently closed a multifamily property transaction in Houston. The property, located at 5915 Flintlock Road, consists of 192 units.
Summary of transaction details
- Property Type: Multifamily
- Transaction Date: 04/18/2021
- Market: Houston
- Buyer: REEP Equity - Jacob Garza, Sr. and Arleen Garza
- Seller: Not mentioned
- BROKERS: Mark Brandenburg, CW Sheehan, and Cort Martin - JLL Capital Markets
The deal was facilitated by Mark Brandenburg, CW Sheehan, and Cort Martin from JLL Capital Markets. They represented the buyer, REEP Equity, in this transaction.
On the Map
MultiFamily
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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