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Pasadena, Texas, United States

Kings Capital Acquires 200& Value-Add Multifamily In Pasadena, TX From Rockstar Capital
SOLDMultiFamily

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

Kassin Sabbagh Realty
Kassin Sabbagh RealtyBrokerage

Jeffrey Znaty

Kings Capital

Buyer

$118.3M

vol

20 deals

Buyer
Rockstar Capital
Rockstar CapitalSeller

Pasadena 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