Updated Oct 29, 2024
ClearWorth Capital LLC Acquires Property In Houston Represented By Connor Phillips And Joey Rippel
8410 W Bartell Dr, Houston, TX, 77054
Units
284
Asset Type
MultiFamily
Closing
Nov 19, 2023
About this deal
AI
The Edge at City Centre is a 284-unit multifamily community located at 8410 W Bartell Dr, Houston, TX, 77054. Built in 1983, the property features a mix of one- and two-bedroom units, averaging 765 square feet. Amenities include two pools, a business center, a fitness center, and a Wi-Fi lounge. The property was 94 percent occupied at the time of sale and is situated in the Houston market.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: Not Disclosed
- Buyer: ClearWorth Capital LLC
- Seller: 29th Street Capital
- Buyer's Representative: Connor Phillips - HFF, Joey Rippel - Berkadia
- Seller's Representative: Chris Young - Compass
Chris Young represented the seller, 29th Street Capital, while Connor Phillips and Joey Rippel served as representatives for the buyer, ClearWorth Capital LLC, facilitating the transaction.
On the Map
MultiFamily
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Houston MultiFamily Market Snapshot
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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