29th Street Capital Acquires Multifamily Property In Houston With Buyer's Rep Dustin Selzer And Seller Allen Harrison
8877 Frankway Drive, Houston, Texas 77096, United States
Building Size
259,928 SF
Asset Type
MultiFamily
Closing
Mar 20, 2022
AI
The multifamily property located at 8877 Frankway Dr in Houston has been sold in a recent transaction. The property consists of 284 units and spans across 259,928 square feet. The sale took place on 03/21/2022.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: Not mentioned in CONTEXT
- Address: 8877 Frankway Dr
- Market: Houston
- Units: 284
- Square Feet: 259,928
The buyer of the property is 29th Street Capital, represented by Doug Burt, Javier Bustillo, Robb Bollhoffer, and Stan Beraznik. The seller of the property is Allen Harrison. The transaction was facilitated by Dustin Selzer from JLL.
Players
Houston MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
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