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2525 CityWest BLVD, Houston...

Middle Street Partners Purchases Property From USAA Real Estate With Brokers Matt Kafka And Jett Lucia
SOLDMultiFamily

Middle Street Partners Purchases Property From USAA Real Estate With Brokers Matt Kafka And Jett Lucia

2525 CityWest BLVD, Houston, TX, 77...

Building Size

Asset Type

MultiFamily

Closing

Nov 19, 2023

AI

The property involved in this transaction is located at 2525 CityWest BLVD, Houston, TX, within the Houston market. The seller, USAA Real Estate, previously developed the property in 2017, and the apartment community consists of 266 units featuring one-, two-, and three-bedroom floor plans. Amenities include a pool, game room, a 24-hour fitness center, business center, and a clubhouse equipped with a catering kitchen. The square footage of the property is unspecified.

Summary of transaction details:

  • Property Type: Apartment Community
  • Transaction Amount: Undisclosed
  • Address: 2525 CityWest BLVD, Houston, TX
  • Market: Houston
  • Seller: USAA Real Estate
  • Buyer: Middle Street Partners
  • Seller's Representatives: Matt Kafka, Dustin Selzer, Jett Lucia - JLL

This sale represents a significant transaction handled by JLL, with the brokerage team consisting of Matt Kafka, Dustin Selzer, and Jett Lucia. The deal underscores the activity in Houston’s Westchase neighborhood, where the property was actively developed and sold.

Players

Dustin Selzer

Broker

$2.5B

vol

10 deals

Broker
MP
Middle Street PartnersBuyer
USAA Real Estate
USAA Real EstateLender

Houston MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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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