EAS Houston LLC Acquires The Co-Op At Med Center In Houston
7710 S Main St, Houston, TX, 77025
Building Size
—
Asset Type
MultiFamily
Closing
Nov 22, 2023
AI
The Co-Op at Med Center is a 200-unit multifamily property located at 7710 S Main St, Houston, TX, 77025, within the Texas Medical Center. The property features studio, one-, and two-bedroom floor plans, with various amenities that include a pool, fitness center, basketball and volleyball courts, study areas, a coffee bar, and a dog park. It was originally built as a hotel and converted to multifamily in 2018.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: Not specified
- Address: 7710 S Main St, Houston, TX, 77025
- Market: Houston
- Seller's Representatives: Ryan Epstein - Walker & Dunlop, Scott Bray - CBRE
- Buyer: EAS Houston LLC
Walker & Dunlop’s Scott Bray, Ryan Epstein, and Jennifer Ray represented the seller, Urban Genesis, in the transaction. The buyer, EAS Houston LLC, intends to implement a value-add program at the property.
Players
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