Kings Capital Acquires 200& Value-Add Multifamily In Pasadena, TX From Rockstar Capital
Pasadena, Texas, United States
Building Size
186,500 SF
Asset Type
MultiFamily
Closing
Dec 30, 2021
AI
Kings Capital, led by George Giannopoulos, Thomas Giannopoulos, Jeffrey Znaty, and Richard Wheeler, has successfully completed their first transaction in Texas. The off-market purchase involved a value-add apartment complex located in Pasadena, Houston, TX. The complex, consisting of over 200 units, presents a promising opportunity for Kings Capital to enhance its value through strategic investments.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: Not specified
Rockstar Capital, the seller in this transaction, facilitated the sale of the property to Kings Capital, marking a successful deal for both parties involved. With this acquisition, Kings Capital is expanding its investment portfolio in Texas, while Rockstar Capital continues to capitalize on lucrative opportunities in the real estate market.
As part of Kings Capital's expansion strategy, the company is actively searching for garden-style complexes in Texas, Florida, Georgia, and the Carolinas. Additionally, they are also interested in value-add multifamily properties, mix-use developments, and development sites in New York City. To explore investment opportunities, interested parties can reach out to Kings Capital at [email protected].
Players
Pasadena 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