Galium Capital Acquires Multifamily Property In Houston For $53.75M
SOLD
$53,750,000
Texas
See Similar DealsMultiFamily278,422 SF
Sold 03/31/2023
SOLD
Galium Capital Acquires Multifamily Property In Houston For $53.75M
909 Texas Avenue
See Similar DealsMultiFamily278,422 SF
Sold 03/31/2023
Summary
TEXAS
Asset Type:MultiFamily
Price Per Square Foot:$193
Total Square Footage:278,422 SF
Transaction Type:Sale
A multifamily property located at 909 Texas Avenue in Houston has been sold in a closed transaction. The property consists of 308 units and spans 278,422 square feet. The sale price for this transaction was $53,750,000, resulting in a price per unit of $174,513 and a price per square foot of $193.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $53,750,000
- Address: 909 Texas Avenue
- Market: Houston
- Buyer: Galium Capital (represented by Jacques Bessoudo and Jonathan Slomianski)
- Seller: Crow Holdings
- Brokers: David Mitchell and Thomas Alleman from Newmark
Jacques Bessoudo and Jonathan Slomianski from Galium Capital purchased the property from Crow Holdings. The transaction was facilitated by brokers David Mitchell and Thomas Alleman from Newmark.
Players
BUYER
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,866,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$190,962.39
Cash-on-Cash Return-1.27%
Monthly Debt Service$254,802.42
Annual Debt Service$3,057,629.06
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