Updated Apr 29, 2026
Daiwa House Group Acquires Parkside Residences Multifamily Tower In Houston For $85.2M
808 Crawford Street
Units
309
Asset Type
MultiFamily
Closing
Apr 29, 2026
About this deal
AI
The transaction involved the acquisition of a multifamily asset located at 808 Crawford Street in Houston. The property is a 43-story luxury tower named Parkside Residences, featuring 309 units. It was delivered in 2023 and represents a significant investment in Houston's downtown submarket, which recorded substantial transaction volume in 2025.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $85.2 million
- Buyer: Daiwa House Group
- Seller: Adam Nims - Trammell Crow Company; Adam Saphier - High Street Residential
Daiwa House Group self-funded the acquisition of Parkside Residences using an $85.2 million loan. The sellers, Adam Nims from Trammell Crow Company and Adam Saphier from High Street Residential, facilitated the deal, demonstrating the ongoing trend of multifamily investment in the area.
On the Map
MultiFamily
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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