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5915 Flintlock Road, Housto...

REEP Equity Acquires 192-Unit Multifamily Property In Houston
SOLDMultiFamily

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

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.

Players

Mark Brandenburg

JLL

Broker

$45.3M

vol

3 deals

Broker

Arleen Garza

REEP Equity

Buyer

2 deals

Buyer
RE
REEP EquityBuyer

Houston MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

Loading comparables…

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