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711 William St, Houston, TX...

The Randall Davis Co Sells Property At 711 William St Houston With Seller's Representatives Bishale Patel Bob Heard Chip Nash
SOLDMultiFamily

The Randall Davis Co Sells Property At 711 William St Houston With Seller's Representatives Bishale Patel Bob Heard Chip Nash

711 William St, Houston, TX, 77002

Building Size

Asset Type

MultiFamily

Closing

Oct 23, 2019

AI

The property involved in this transaction is the Dakota Lofts apartment building, located at 711 William St, Houston, TX, 77002. This historic property consists of 53 units and is situated in Houston’s Warehouse District. Originally built in 1911 as the Bute Paint Factory, it was renovated in 1993 by The Randall Davis Co. to function as multifamily housing featuring vintage loft-style units. At the time of sale, Dakota Lofts was more than 90 percent occupied.

Summary of transation details:

  • Property Type: Apartment Building
  • Transaction Amount: Unknown
  • Address: 711 William St, Houston, TX, 77002
  • Market: Houston
  • Seller: The Randall Davis Co
  • Buyer's Representative: Unknown

Representing The Randall Davis Co. in the sale were Bishale Patel from Houston Income Properties, Bob Heard and Chip Nash from Colliers International. The brokerage firm JLL facilitated the transaction, with Chip Nash and Bob Heard specifically involved in the sale, alongside Jim Hurd and Bishale Patel.

Players

Chip Nash

Colliers

Broker

21 deals

Broker

Randall Davis

Seller

$649.5M

vol

3 deals

Seller

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