Updated Oct 28, 2024
Shimon Rieder Acquires 529-Unit Multifamily Property On Grow Lane, Houston, TX
7835 Grow Lane
Units
529
Asset Type
MultiFamily
Closing
Apr 3, 2022
About this deal
AI
The multifamily property located at 7835 & 8047 Grow Lane in Houston, TX has been sold in a recent transaction. The property consists of 529 units and was part of a sale.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: Not specified
- Address: 7835 & 8047 Grow Lane
- Market: Houston, TX
- Units: 529
Shimon Rieder is the buyer in this transaction, while Nitya Capital is the seller. Rosewood Realty represented both parties in the deal, with Aaron Jungreis serving as the buyer's representative and Mike Kerwin and Scott Bernstein representing the seller.
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