Jeffrey Goldberg Of Fairstead Acquires 168-Unit Multifamily Property In Houston For $43.4M

The property involved in the transaction is a multifamily asset located at 777 Coolwood Drive in Houston. The property consists of 168 units, which were acquired for a sale price of $43,400,000, resulting in a price per unit of $258,333. The buyer, Fairstead, plans to revitalize the community and has engaged financing from PNC Bank along with state tax credit programs.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $43,400,000
• Buyer's Name: Jeffrey Goldberg
• Buyer's Agency: Fairstead
• Lender: PNC Bank
• Units: 168
• Price Per Unit: $258,333

Jeffrey Goldberg represents Fairstead in the acquisition of Coolwood Oaks, which will undergo renovations totaling $14 million to modernize both the individual units and common areas. This investment will enhance Fairstead’s presence in Texas, expanding their portfolio to over 2,000 affordable residences.