Colliers International Facilitates Sale Of Deer Springs Apartments In Humble, Texas
98 Isaacks Road
Building Size
—
Asset Type
MultiFamily
Closing
Feb 26, 2024
AI
Deer Springs Apartments, a 128-unit multifamily community located at 98 Isaacks Road in Humble, Texas, was sold by Alphil Investments. The sale was facilitated by Colliers International, with Bob Heard, Chip Nash, Jaleel Adatia, and Kitty Wallace representing the seller. The property garnered strong interest early in the marketing process, leading to a swift sale to an out-of-state buyer who provided all-cash, competitive terms, and a quick closing timeline.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: Not specified
- Units: 128
- Market: Humble
- Brokers: Bob Heard, Chip Nash, Jaleel Adatia & Kitty Wallace - Colliers International
The successful sale of Deer Springs Apartments was orchestrated by a team of experienced brokers from Colliers International. Chip Nash, Bob Heard, Kitty Wallace, and Jaleel Adatia played crucial roles in representing Alphil Investments throughout the deal, ensuring a seamless transaction for the out-of-state buyer. The quick sale process with favorable terms exemplifies the efficiency and expertise of the brokerage team.
Players
Humble 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