Kushner Properties Acquires Multifamily Portfolio In Tomball, Cypress & Lake Houston For $200M
SOLD
$200,000,000
Texas
See Similar DealsMultiFamily
Sold 12/23/2021
SOLD
Kushner Properties Acquires Multifamily Portfolio In Tomball, Cypress & Lake Houston For $200M
Tomball, Texas, United States
See Similar DealsMultiFamily
Sold 12/23/2021
Summary
TEXAS
Asset Type:MultiFamily
Transaction Type:Sale
The multifamily portfolio in Tomball, Cypress, and Lake Houston was recently sold for $200,000,000. The property consists of 1,072 units, with an average price per unit of $186,567. The sale was facilitated by the brokerage firm Berkadia, representing the buyer, Kushner Properties, led by Laurent Morali, Nicole Kushner Meyer, and Riley Wilson. The transaction was financed by Freddie Mac.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $200,000,000
- Address: Multifamily Portfolio
- Market: Tomball, Cypress & Lake Houston
- Buyer: Kushner Properties - Laurent Morali & Nicole Kushner Meyer & Riley Wilson
- Broker: Berkadia
- Lender: Freddie Mac
- Units: 1,072
- Price Per Unit: $186,567
The sale of the multifamily portfolio involved key individuals and companies. The buyer, Kushner Properties, is represented by Laurent Morali, Nicole Kushner Meyer, and Riley Wilson. The transaction was facilitated by the brokerage firm Berkadia. Financing for the deal was provided by Freddie Mac.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$10,666,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$710,557.75
Cash-on-Cash Return-1.27%
Monthly Debt Service$948,102.04
Annual Debt Service$11,377,224.42
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