Updated Aug 4, 2025
Colliers Brokered Sale Of 87-Unit Shoal Pointe Apartments In Texas City
813 Bay Street North
Units
87
Asset Type
MultiFamily
Closing
Aug 1, 2025
About this deal
AI
The transaction involved the sale of Shoal Pointe Apartments, a multifamily property located at 813 Bay Street North in Texas City. The asset consists of 87 units and was built in 1970, with partial renovations completed in 2020.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: Not disclosed
- Units: 87
- Address: 813 Bay Street North
- Market: Texas City
- Built: 1970
- Partial Renovation: 2020
Brokers Bob Heard, Chip Nash, and Jaleel Adatia from Colliers represented the undisclosed seller in this transaction. The identity of the private buyer remains undisclosed.
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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